Info Edge (India) Limited has informed the Exchange about 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) Limited has approved an investment of Rs. 10 Crores in its wholly-owned subsidiary Smartweb Internet Services Limited. The investment will be made through the purchase of 10,00,000 Compulsorily Convertible Debentures (CCDs) with face value of Rs. 100 each. Smartweb is engaged in providing internet services and acts as an investment advisor/financial consultant. As of March 31, 2025, Smartweb had a turnover of Rs. 41.39 crores, PAT of Rs. 5.03 crores, and networth of Rs. 60.91 crores. The transaction is a related party transaction but has been conducted at arm's length. The purpose is to meet Smartweb's funds requirement and strengthen it financially. The investment is expected to be completed within 30 days.
This is an internal funding round for a wholly-owned subsidiary and is unlikely to have any direct material impact on Info Edge's stock price. It may slightly improve Smartweb's financial flexibility.