Redstart, which reported a profit after tax (PAT) of ₹1.36 crore and a net worth of ₹16.18 crore, is already a 100% subsidiary of Info Edge on a fully diluted basis.
Noida-based Info Edge Ltd on Monday (November 3) said its board has approved an investment of about ₹100 crore in its wholly owned subsidiary, Redstart Labs. The investment will be made through the acquisition of 10 crore equity shares at a face value of ₹10 each, the company said in a regulatory filing.
Redstart, which reported a profit after tax (PAT) of ₹1.36 crore and a net worth of ₹16.18 crore, is already a 100% subsidiary of Info Edge on a fully diluted basis.
Info Edge has earned a reputation over the last couple of decades for being an early backer of several well-known Indian tech businesses and startups, including Zomato and Policybazaar.
Its subsidiary Redstart Labs was founded in 2020 to scout investment opportunities in new-age tech start-ups “creating new ecosystems and outcomes driven by emerging science and tech”.
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