Info Edge said, "This investment would help the Company create financial value as well as increase its presence in a business adjacent to one of its core operating businesses."
Greytip Software is an HR and Payroll SaaS company focused on serving SME customers in India and abroad. It's software solutions cover all areas, including employee information management, leave and attendance management, payroll, expense claims, and more. It helps companies in streamlining HR operations and enhancing the employee experience, thereby increasing productivity.
Under the agreement, Info Edge has agreed to acquire 3,58,581 Series D Compulsorily Convertible Debentures (CCDs) having a face value of Rs836.631 per Series D CCD. The aggregate shareholding of the Company, post this investment, in the said entity would be 28.73% on a fully converted & diluted basis.
At around 3.24 pm, Info Edge was trading at Rs5974.70 per piece down by Rs24.15 or 0.4% on Sensex.
The stock has touched an intraday high and low of Rs6130.05 per piece and Rs5944.10 per piece respectively.