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  • Info Edge to invest Rs 80 cr in Metis Eduventures

    Info Edge (India) on Wednesday announced that its board has approved entering into agreement to invest about Rs 80 crore in Metis Eduventures (Adda247) as primary acquisition of shares.

    Adda247 is engaged in the business of delivering educational services and assistance to students preparing for examinations through software technology platforms (both web and mobile application) and is additionally engaged in delivering educational services through offline classroom based methodology. The company's turnover stood at Rs 64 crore in the financial year ended 30 March 2022. Info Edge said that this follow on investment is in furtherance of company's investment strategy, which includes making external financial investments that are focused on value creation in the medium to long term. The company has agreed to acquire 14,088 Series B - compulsorily convertible preference shares having face value of Rs 5 each as primary acquisition of shares. The aggregate shareholding of the company, post this investment, in the said entity would be 23.01% on a fully converted & diluted basis.

    Info Edge (India) is among the leading internet companies in India. The company runs leading internet businesses viz. Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. It has made significant strategic investments such as zomato.com, policybazaar.com and happily unmarried.com etc.

    The company's standalone net profit jumped 47% to Rs 148.43 crore on a 58.8% increase in net sales to Rs 507.66 crore in Q1 FY23 over Q1 FY22.

    Shares of Info Edge (India) were up 0.20% to Rs 4,069.80 on the BSE.



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Flash News 28-Nov-2022
  •  ( 17:55) Dharmaj Crop Guard IPO subscribed 1.79 times  
  •  ( 16:53) Benchmarks hit record high levels; Nifty ends at 18,562.75  
  •  ( 15:46) Indus Towers board OKs Rs 1,500-crore NCD issue  
  •  ( 14:34) Auto stocks in demand  
  •  ( 14:34) Shares pare some gains  
  •  ( 14:33) Indian Oil Corp issues NCDs worth Rs 2,500 cr  
  •  ( 12:38) Sensex, Nifty at record high; IT stocks advance  
  •  ( 12:05) L&T bags ‘significant' orders for hydrocarbon business  
  •  ( 11:37) HFCL bags order from SWSM for 1,770 crore  
  •  ( 11:34) Metal stocks tumble  
  •  ( 11:34) Benchmarks hit fresh intraday high  
  •  ( 11:04) Hero MotoCorp hikes ex-showroom prices from Dec 1  
  •  ( 10:39) LIC pares stake in Siemens, DCM  
  •  ( 10:29) Oil & Gas stocks rise for 5th day  
  •  ( 10:29) Barometers trade with strong gains  
  •  ( 09:59) Lemon Tree Hotels signs new property in Jamshedpur  
  •  ( 09:32) Strong market breadth  
  •  ( 09:31) Indices trade sideways amid volatility  
  •  ( 08:34) Asian stocks trading lower  
  •  ( 08:11) Max Financial to acquire residual stake in Max Life  
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28 November 2022 00:00
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