Info Edge (India) jumps on getting nod to invest around Rs 135.4 crore in Sunrise Mentors
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Info Edge (India) is currently trading at Rs. 3906.20, up by 101.30 points or 2.66% from its previous closing of Rs. 3804.90 on the BSE.
The scrip opened at Rs. 3850.00 and has touched a high and low of Rs. 3941.50 and Rs. 3850.00 respectively. So far 4061 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 7462.95 on 19-Oct-2021 and a 52 week low of Rs. 3314.00 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 3941.50 and Rs. 3797.00 respectively. The current market cap of the company is Rs. 50295.42 crore.
The promoters holding in the company stood at 38.11%, while Institutions and Non-Institutions held 49.09% and 12.79% respectively.
Info Edge (India) has received approval for investment around Rs 135.4 crore via a mix of primary and secondary purchase of shares in Sunrise Mentors by acquisition of 22,836 Compulsorily Convertible Preference Shares (CCPS) of face value Rs 10 each and 27,089 Equity Shares of face value Rs 10 each.
Pursuant to the approval of the Board, the Company has finalized and executed the relevant agreements for the Investment. The Investment is subject to fulfilment of certain customary conditions precedent and other terms and conditions agreed under the relevant agreements. This investment would help the company to explore and maximize business synergies between the two platforms - Naukri and CodingNinjas.
Info Edge (India) owns one of the leading job portals naukri.com. The company is a leading provider of various portals related to online recruitment, matrimonial, real estate and education classifieds and related services in India.
