Info Edge India Ltd has entered into an agreement to invest, through its wholly-owned subsidiary, about Rs. 1.5 Cr. in LQ Global Services Pvt. Ltd. ("LegitQuest").
LegitQuest is SaaS product at the intersection of Technology Legal utilizing Machine Learning, Modern Search algorithm Data Analytic for the legal professionals. It is Legal-Tech venture run by versatile team of tech-savvy attorneys, engineers and designers who aim to make the practice of law simpler for its end users.
As part of company's strategic investments, the investment would help the Company to diversify its presence into new line of business.
The Company has agreed to acquire 16,225 Seed Compulsorily Convertible Preference Shares and 10 Ordinary Shares The aggregate shareholding of the Company, post this investment, in the said entity would be 16.67% on fully converted diluted basis.
Shares of INFO EDGE (INDIA) LTD. was last trading in BSE at Rs.2301.3 as compared to the previous close of Rs. 2284.45. The total number of shares traded during the day was 8921 in over 1851 trades.
The stock hit an intraday high of Rs. 2357 and intraday low of 2285.65. The net turnover during the day was Rs. 20791208.