Info Edge joins hands with AIFs for investment upto Rs1,300 crore

18 Apr 2022 , 12:03 PM

Info Edge (India) Limited has informed that its Board of Directors has approved entering into contribution agreements with the following three schemes of the Alternate Investment Funds (AIFs) to commit contributions of up to Rs1,300 crore in aggregate.

The company can make contributions directly or through wholly-owned subsidiaries (ies) in accordance with the multiple drawdowns by the respective funds over the years.

The said investment is in line with the company’s strategy on external financial investments that are focused on value creation in medium to long term prospects of the Company.

The company is seeking investment upto Rs400 crore in Info Edge Venture Fund Follow-on I, upto Rs600 crore in Info Edge Venture Investment Fund II, and investment upto Rs300 crore in Capital 2B Fund I. It has agreed to acquire units of the said entities at face value.

Info Edge (India) is currently trading at Rs4,643.90 down by Rs106.1 or 2.23% from its previous closing of Rs4,750 on the BSE. The scrip opened at Rs4,749 and has touched day’s high and low of Rs4,749 and Rs4,640 respectively.