Info Edge India Ltd to invest Rs. 7.5 crores in Happily Unmarried Marketing Pvt Ltd

Info Edge (India) Ltd has agreed to invest about Rs.7.5 Cr. in Happily Unmarried Marketing Private Limited, through its wholly-owned subsidiary.

Happily Unmarried is engaged in the business of personal care, under the brand “Ustraa” and “HU Girls” and any other brand which the Company may launch in the future and excludes the existing home accessory businesses conducted under the brand “Happily Unmarried”.

As part of company’s strategic investments, the investment would help the Company to consolidate its position into the said line of business within the Internet Services Industry.

The Company has agreed to acquire 875 Series I NonCumulative Compulsorily Convertible Preference Shares. The aggregate shareholding of the Company, post this investment together with previous investments, in the said entity would be 30.57% on a fully converted and diluted basis.

Shares of Info Edge (India) Limited was last trading in BSE at Rs. 4267.45 as compared to the previous close of Rs. 4250.30. The total number of shares traded during the day was 28719 in over 5842 trades.

The stock hit an intraday high of Rs. 4293.40 and intraday low of 4086.70. The net turnover during the day was Rs. 120194283.00.

Source : Equity Bulls

Keywords

InfoEdgeIndia INE663F01024 Investment HappilyUnmarriedMarketing