Info Edge (India) has invested about Rs 3.70 crore in associate company, Terralytics Analysis. Terralytics is engaged in the business of developing intelligence and analytics in real estate vertical for sale to banks, developers, consulting firms, etc. for diligence, information and other purposes.
This investment would help the Company to strengthen its offering in the real estate segment by providing an enhanced platform to real estate industry professionals, financial institutions and individual buyers to conduct their business efficiently.
The Company has agreed to acquire 6,650 Compulsorily Convertible Preference Shares as part of a larger fund raise exercise by Terralytics. Upon the successful closing of the said fund raise exercise, the aggregate shareholding of the Company in the said entity would be 20.50 % on a fully converted & diluted basis.
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