Info Edge (India) Ltd on Tuesday, February 17, said its Committee of Executive Directors has approved an investment of about ₹30 crore in Startup Investments (Holding) Ltd (SIHL), a wholly-owned subsidiary of the company.
According to an exchange filing, the investment will be made through subscription to 14,01,214 compulsorily convertible debentures (CCDs) of face value 0.0001% at an issue price of ₹214.10 per CCD, including a premium of ₹114.10 per CCD. The consideration will be paid in cash.
Post the investment, SIHL will continue to remain a wholly-owned subsidiary of the company.
According to the exchange filing, SIHL, which has its registered office in New Delhi, reported nil turnover for the financial year ended March 31, 2025. It posted a profit after tax of ₹0.86 crore and had a net worth of (₹209.50 crore) as of the same date.
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Info Edge said the transaction qualifies as a related party transaction since the company already holds 100% stake in SIHL directly and through its wholly-owned subsidiary, Naukri Internet Services Ltd.on a fully converted and diluted basis. However, the company clarified that the promoter, promoter group and group companies have no interest in the investment and that the transaction is being undertaken on an arm’s length basis.
The company said the fresh infusion will enable SIHL to explore investment opportunities, including contributions to alternative investment funds (AIFs), and for other general corporate purposes.
The investment is expected to be completed within 30 days from the date of approval.
Shares of Info Edge (India) Ltd ended marginally lower on Tuesday, February 17, by 0.10% at ₹1,124.10 on the NSE.
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