Info Edge (India) has received approval to entering into agreement to invest about Rs 80 crore in Metis Eduventures (Adda247) as primary acquisition of shares. This follow on investment by the Company is in furtherance of Company’s investment strategy, which includes making external financial investments that are focused on value creation in the medium to long term. The Board of Directors of the company approved the same.
The company has agreed to acquire 14,088 Series B - Compulsorily Convertible Preference Shares having face value of Rs 5 each as primary acquisition of shares. The aggregate shareholding of the Company, post this investment, in the said entity would be 23.01% on a fully converted & diluted basis.
Info Edge (India) owns one of the leading job portals naukri.com. The company is a leading provider of various portals related to online recruitment, matrimonial, real estate and education classifieds and related services in India.
