Info Edge (India) invests Rs100 crore in wholly-owned subsidiary Allcheckdeals India

2 Sep 2022 , 10:58 AM

Info Edge (India) Limited has informed that the Company has invested an amount of Rs100 crore in Allcheckdeals India Pvt. Ltd(ACD), wholly owned subsidiary of the Company.

In a regulatory filing, the company said that ACD is engaged in the business of Brokerage services in the real estate sector in India.

It f urther added, “The said investment is to further strengthen the ACD financially in order for it to pursue its strategy of developing services with the use of technology and innovative business models in the large sized and rapidly growing real estate vertical through organic or inorganic channels.

This would enhance value of the Company’s investments on the one hand and on the other, it will boost synergies with the Company’s operating business in the same vertical.”

At around 11:01 AM, Info Edge (India) Ltd is currently trading at Rs4,262.65 per share up by Rs4.15 or 0.1% from its previous closing of Rs4,258.50 per share on the BSE.

For feedback and suggestions, write to us at [e-mail]