Info Edge India Ltd has invested through its wholly-owned subsidiary Rs.60 million in Bizcrum Infotech Private Ltd ("ShoeKonnect").
ShoeKonnect is a B2B marketplace ("ShoeKonnect" mobile app, www.shoekonnect.com website) that enables footwear brands, manufacturers, wholesalers and retailers to connect, communicate & transact with each other for conducting and ~xpanding their business.The platform facilitates catalogue/inventory uploading, order placement, order receipt, delivery scheduling and payment management) amongst manufacturers, wholesalers, manufacturers and retailers.
As part of company's strategic investments, the investment would help the Company to consolidate its presence into the aforesaid line of business within the Internet Services Industry.
The Company has acquired 6,000,000 0.01% Compulsorily Convertible Preference Shares having face value of Rs.10 each. The aggregate shareholding of the Company, post this investment, in the said entity would be 29.79% on fully converted & diluted basis.
Shares of INFO EDGE (INDIA) LTD. was last trading in BSE at Rs.1900 as compared to the previous close of Rs. 1849.1. The total number of shares traded during the day was 8325 in over 1035 trades.
The stock hit an intraday high of Rs. 1908 and intraday low of 1826.05. The net turnover during the day was Rs. 15549080.