Info Edge To invest INR 300 Cr In SIHL
SIHL, a wholly owned subsidiary of Info Edge ,backed by sanjeev bikhchandani , into 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 contribution 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 the business of providing all kinds of internet services and to act as investment advisor, financial consultant, management consultant, investment manager and/or sponsor of alternative investment fund (s).
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 100% stake in SIHL. According to the filing, the transaction will be executed at an arm’s length basis.
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