Info Edge (India) to acquire 25% stake in Juno Learning for Rs11.25 crore

16 Feb 2022 , 01:43 PM

Info Edge (India) Ltd stocks in focus on Wednesday as the company has entered into an agreement to acquire securities in Juno Learning Pvt. Ltd. (“Juno”) for an amount of about Rs11.25 crore.

As on March 31, 2021 Juno is newly incorporated and is under first year of its operations, said company in a filing.

According to the filing, Juno is engaged in the business, which is an interactive, online school that teaches sales techniques, processes, and tools to students and entry-level professionals in an experiential manner, to enhance employability.

As part of the Company’s strategy, the investment would help the Company create and consolidate its presence into a niche vertical of “Sales upskilling”. It perfectly fits into the Company’s playbook to invest in adjacencies to recruitment and education verticals and create synergies with its existing businesses.

The Company has agreed to acquire 4,331 Compulsorily Convertible Preference Shares having face value of Rs. 10/- each as Primary acquisition of shares. The aggregate shareholding of the Company, post this investment, in the said entity would be 25% on a fully converted & diluted basis.

Founded by Tarun Matta, Juno is building an interactive online school that teaches sales techniques, processes, and tools to entry-level professionals and students in an experiential manner, to enhance employability. Tarun Matta, has successfully built platforms like iimjobs.com and hirist.com (online recruitment platforms in Management and Engineering space) as an entrepreneur and later for Infoedge post its acquisition, the company further added.

At around 1:44 PM, Info Edge (India) was trading at Rs4,638 apiece down by Rs40.7 or 0.87% on Sensex.