Info Edge acquires 20.50% stake in Terralytics; stock slips ~2%

12 Apr 2022 , 10:02 AM

Info Edge India Limited has agreed to acquire 6,650 Compulsorily Convertible Preference Shares as part of a larger fundraising exercise by Terralytics. Upon the successful closing of the said fundraising exercise, the aggregate shareholding of the Company in the said entity would be 20.50% on a fully converted & diluted basis.

The said acquisition is for a cash consideration of Rs3.70 crore.

Terralytics is engaged in developing intelligence and analytics in real estate vertical for sale to banks, developers, consulting firms, etc. for diligence, information, and other purposes.

This investment would enable the Company to strengthen its offering in the real estate segment by providing an enhanced platform for real estate industry professionals, financial institutions, and individual buyers to conduct their business efficiently.

Info Edge’s stock dipped 2.40% so far in today’s trade at Rs4,766.05 as against the previous close of Rs4,883.10 on NSE. It touched intraday high and low of Rs4,880 and Rs4,733 respectively.