Info Edge (India) board approves investment of Rs300 crore in SIHL

16 Aug 2022 , 01:01 PM

Info Edge (India) Ltd has informed that the Company has agreed to invest an amount of Rs300 crore in Startup Investments (Holding) Ltd., wholly owned subsidiary of the Company.

As per the filing, the Company already holds 100% stake in SIHL on a fully converted and diluted basis. Accordingly, the transaction is done at Arm’s Length basis.

SIHL is engaged in the business of being a holding and investment Company, Info Edge said in a official statement.

The present investment would help the wholly-owned subsidiary SIHL to explore investment opportunities including contribution to AIF(s) managed by Smartweb Internet Services Limited.

At around 1:01 PM, Info Edge (India) Ltd was currently trading at Rs4,415 per share down by Rs16.35 or 0.37% from its previous closing of Rs4,431.35 per share on the BSE.