Info Edge has incurred a notional loss of Rs 532 crore from its investment in 4B Networks

8 Nov 2023 , 02:43 PM

In a note to investors during the quarterly results presentation on November 7, the technology business Info Edge revealed that it has written down its investment in Broker Network (4B Networks Private Limited), a proptech startup founded by Rahul Yadav, for a total loss of Rs 532 crore.

Even though Info Edge invested Rs 288 crore in the firm, the remaining amount represents the notional loss from the former, higher valuation that the company was able to secure. Prior to Info Edge being forced to write off its whole investment made through its wholly owned subsidiary ALLcheckdeals India, the startup was valued at Rs 719 crore.

While the debt fund infusion occurred early this year, Info Edge made its initial investment in 4B Networks in 2021 and then increased its stake across several tranches in 2022. This year, the investment was written off early.

Info Edge is the owner of 59% of 4B Networks.

Rahul Yadav, the founder of Housing.com, founded 4B Networks in November 2020 with the goal of facilitating communication and commercial dealings between brokers and real estate developers via its platform. Additionally, it aided in the origination of loans for end users.

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