Info Edge India invests Rs91 crore in Aisle Network; Stock under pressure

7 Mar 2022 , 10:15 AM

Info Edge India Limited has invested an amount of about Rs91 crore in Aisle Network Private Limited through its wholly owned subsidiary. The Company has agreed to acquire 21,483 shares comprising 11,699 Compulsorily Convertible Preference Shares (CCPS) and 9,784 Equity Shares via mix of primary infusion and secondary purchase. The aggregate shareholding of the Company, post this investment, in the said entity would be about 76% on a fully converted & diluted basis.

At around 10.18 am, Info Edge (India) Ltd was trading at Rs4,286.35 per share down by Rs55.15 or 1.27% from its previous closing of Rs4,341.50 per share on the BSE.

Aisle is engaged in the business of running multiple dating platforms on the web via its mobile apps Aisle, Anbe, Arike and HeyDil. These platforms allow users to browse through profiles of other users with the intent of finding their suitable partner.

“As part of the Company’s strategic investments, the investment would help the Company to strengthen its offerings in the match making segment by addressing the needs of people of different age groups and beliefs, searching for a suitable match for them,” company said in a filing on Friday.