Info Edge India to invest Rs 80 cr in Metis Eduventures Adda247

23 Sep 2022 , 01:31 AM

The Board of Info Edge India has approved entering into agreement to invest about Rs80 crore in Metis Eduventures Adda247 as primary acquisition of shares Adda247 is engaged in the business of delivering educational services and assistance to students preparing for examinations through software technology platforms both web and mobile application and is additionally engaged in delivering educational services through offline classroom based methodology Since Adda247 is an Associate company of the Company it is a Related Party transaction The Company has agreed to acquire 14088 Series B -Compulsorily Convertible Preference Shares having face value of Rs 5 each as primary acquisition of shares The aggregate shareholding of the Company post this investment in the said entity would be 2301Percentage on a fully converted diluted basis