Financial Wire

Info Edge (India) Gets Board Nod to Invest Additional INR100 Million in Wholly-Owned Arm

-- Info Edge (India) (NSE:NAUKRI, BOM:532777) has received board approval to invest an additional 100 million Indian rupees in its wholly-owned subsidiary Smartweb Internet Services, according to a Friday filing to the Indian stock exchanges.

The company has agreed to acquire 1 million 0.0001% compulsorily convertible debentures having a face value of 100 rupees each, for its investment.

The additional investment will be made in 30 days, and it will allow Smartweb to meet its funding requirements and strengthen its financial position.

Smartweb is engaged in the business of providing all kinds of internet services, and acts as an investment advisor, financial consultant, management consultant, investment manager, and sponsor of alternative investment funds.

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Info Edge (India) Gets Board Nod to Invest Additional INR100 Million in Wholly-Owned Arm | Financial Wire