Info Edge India to invest Rs7.5 crore in Happily Unmarried Marketing; Stock jumps 2%

25 Aug 2022 , 02:45 PM

Info Edge (India) Ltd has agreed to invest about Rs7.5 crore in Happily Unmarried Marketing Private Limited, through its wholly-owned subsidiary.

Happily Unmarried involves business of personal care, under the brand ‘Ustraa’ and ‘HU Girls’ and in relation to that any other brand which the Company may launch in the future and excludes the existing home accessory activities/businesses conducted under the brand ‘Happily Unmarried’.

“As part of company’s strategic investments, the investment in Happily Unmarried would help to consolidate its position into the said line of business within the Internet Services Industry”, Info Edge said in a filing.

Further, the Company has agreed to acquire 875 Series I NonCumulative Compulsorily Convertible Preference Shares to which the aggregate shareholding of the Company, post this investment together with previous investments, in the said entity would stand at 30.57% on a fully converted and diluted basis.

At around 2:44 PM, Info Edge (India) Ltd is currently trading at Rs4,518.90 per share up by Rs101 or 2.29% from its previous closing of Rs4,417.90 per share on the BSE.

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