Info Edge's Committee of Executive Directors on Friday approved to invest ₹10 Crore in its wholly-owned subsidiary, Zwayam Digital Private Limited, the company announced through an exchange filing. The investment by Info Edge is to meet the working capital requirement of Zwayam.
The Company has agreed to acquire 1,000,000-0.0001 per cent Compulsorily Convertible Debentures (“CCDs”) having face value of ₹100 each.
The Company already holds 100 per cent stake in Zwayam on a fully converted and diluted basis.
Zwayam is engaged in the business of providing SaaS based sourcing and screening recruitment solutions and providing end-to-end recruitment solutions with configurable plug and play modules.
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Redstart invests in Brainsight
Info Edge's subsidiary Redstart last month agreed to invest an aggregate amount of ₹98,94,000 in Brainsight through convertible notes.
Info Edge shares
The shares of Info Edge on Friday afternoon at 2:07 pm IST were trading at ₹4,197.75, down by 2.34 per cent.
