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Info Edge’s arm invests Rs 4 crore in NewInc

18 Feb 2023 Evaluate

Info Edge’s (India) wholly owned subsidiary -- Allcheckdeals India (ACD) has invested Rs 4 crore in its wholly owned subsidiary-NewInc Internet Services (NewInc), step down wholly owned subsidiary of the company. The said investment is done to meet working capital requirement of the NewInc.

ACD has agreed to acquire 4,00,000 - 0.0001% Compulsorily Convertible Debentures (CCDs) having face value of Rs 100 each. Post this investment, NewInc remains the step down wholly-owned subsidiary of the company.

NewInc is engaged in the business of providing all kinds and types of internet, computer and electronics data processing services.

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.

Info Edge Share Price

1054.50 7.10 (0.68%)
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Peers
Company Name CMP
eClerx Services 1631.05
Info Edge 1054.50
Firstsource Solution 239.25
Affle 3i 1468.10
Hinduja Global Soln. 426.90
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