Allcheckdeals invests Rs. 137.12 crores in 4B Networks Pvt Ltd

Allcheckdeals India Pvt. Ltd. ("ACD"), a wholly-owned subsidiary of Info Edge India Ltd has invested an amount of about Rs.137.12 Cr., in 4B Networks Private Limited.

4B is engaged in the business of enabling real estate developers and brokers to communicate with each other and conduct their business via the Broker Network Platform. It helps Brokers conduct site visits and provide home loan related services to their clients.

The investment would help ACD to strengthen its offering in the real estate segment by providing a new platform to real estate industry professionals to conduct their business efficiently through the majority held in 4B post this investment.

The Company has acquired 4,270 Compulsorily Convertible Preference Shares (CCPS). The aggregate shareholding of the Company, post this investment together with previous investments, in the said entity would be 57.16% on a fully converted and diluted basis.

Shares of Info Edge (India) Limited was last trading in BSE at Rs. 4611.25 as compared to the previous close of Rs. 4488.40. The total number of shares traded during the day was 10508 in over 1622 trades.

The stock hit an intraday high of Rs. 4628.50 and intraday low of 4525.10. The net turnover during the day was Rs. 48151291.00.

Source : Equity Bulls

Keywords

InfoEdgeIndia INE663F01024 AllcheckDeals Investment 4BNetworks