Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Info Edge (India) Ltd has approved an investment of Rs. 30 crores in its wholly-owned subsidiary, Startup Investments (Holding) Limited (SIHL). The investment is in the form of 14,01,214 Compulsorily Convertible Debentures (CCDs) at Rs. 214.10 per CCD. SIHL is engaged in direct and indirect investments in tech companies and Alternate Investment Funds (AIFs). The subsidiary has a negative net worth of Rs. 209.50 crores with minimal PAT of Rs. 0.86 crores and nil turnover. This is a related party transaction but conducted at arm's length. The transaction is expected to complete within 30 days.
This is an internal capital infusion into a subsidiary and does not directly impact Info Edge's core recruitment business. The investment will strengthen SIHL's ability to explore new tech investment opportunities and contribute to AIFs, aligning with Info Edge's strategy of backing early-stage tech startups.