Info Edge India Ltd has entered into an agreement to invest, through its wholly-owned subsidiary about Rs. 7 Cr. in Medcords Healthcare Solutions Private Limited (Medcords). Medcords is an existing Investee company wherein the Company holds 11.37% of the paid-up share capital on a fully converted & diluted basis.
Medcords (operated through its apps 'Aayu' and 'Sehat Sathi') connects patients, doctors and pharmacies to facilitate tele-consultations for patients in Tier 2 & 3 cities with low access to quality doctors. It also enables intelligent digitization and on-demand availability of users' medical records.
The Company has agreed to acquire 2,869 Series A Compulsory Convertible Preference Shares having face value of Rs. 100/- each at a premium of Rs. 24,295.20/- per share. The aggregate shareholding of the Company, post this investment, in the said entity would be 16.89% on a fully converted & diluted basis.
Shares of INFO EDGE (INDIA) LTD. was last trading in BSE at Rs.1943.05 as compared to the previous close of Rs. 1975.65. The total number of shares traded during the day was 73913 in over 1676 trades.
The stock hit an intraday high of Rs. 2072.3 and intraday low of 1865.85. The net turnover during the day was Rs. 148653725.