SIHL will use the capital to explore other investment opportunities including contribution towards AIFs managed by Info Edge-owned Smartweb Internet Services
The INR 300 cr investment would be in the form of a ‘cash consideration’ and would be completed immediately
SIHL, a wholly owned subsidiary of Info Edge, is a holding and investment company.
Noida-based online classifieds company Info Edge on Saturday (August 13) said it would invest INR 300 Cr in its wholly owned subsidiary Startup Investments (Holding) Limited (SIHL).
SIHL will use the capital to explore other investment opportunities including contributions towards alternative investment funds (AIFs) managed by Info Edge-owned Smartweb Internet Services.
Smartweb Internet Services is a wholly owned subsidiary of Info Edge and is engaged in providing all kinds of internet services and acts as an investment advisor, financial consultant, management consultant, investment manager and sponsor of alternative investment fund (s). In July, Info Edge announced an investment of INR 15 Cr in Smartweb.
In its regulatory filing on Saturday, Info Edge said, “The company has agreed to acquire 30,000,000-0.0001% compulsorily convertible debentures (CCDs) having face value of Rs. 100/- each, convertible within a period not exceeding 10 years, at any time from the date of allotment on agreed terms and conditions.”
Info Edge already holds a 100% stake in SIHL. According to the filing, the transaction will be executed at an arm’s length basis.
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