Info Edge (India)-led Allcheckdeals invests Rs137.12 crore in 4B Networks

31 Mar 2022 , 11:38 AM

Allcheckdeals India Pvt. Ltd. (“ACD”), a wholly-owned subsidiary of Info Edge India Ltd has invested an amount of about Rs137.12 crore., in 4B Networks Private Limited.

4B is engaged in the business of enabling real estate developers and brokers to communicate with each other and conduct their business via the Broker Network Platform. It helps Brokers conduct site visits and provide home loan related services to their clients.

In a regulatory filing, the company said, “The investment would help ACD to strengthen its offering in the real estate segment by providing a new platform to real estate industry professionals to conduct their business efficiently through the majority held in 4B post this investment.”

The company has acquired 4,270 Compulsorily Convertible Preference Shares (CCPS). The aggregate shareholding of the Company, post this investment together with previous investments, in the said entity would be 57.16% on a fully converted and diluted basis, the company added further.

At around 11:40 AM, Info Edge (India) was trading at Rs4,607.30 apiece down by Rs3.95 or 0.09% on Sensex.