Info Edge India Ltd's subsidiary to invest in Agstack Technologies Pvt Ltd

Startup Investments (Holding) Ltd. ("SIHL"), a wholly-owned subsidiary of Info Edge (India) Ltd has agreed to invest about Rs.9.31 Crores in Agstack Technologies Private Limited.

Gramophone is a full stack agritech platform for farmers. The company sells agri-inputs to farmers directly and via small retailers in an omnichannel model. It also provides advisory to farmers with respect to cropping / farming practices and helps them in selling their output to buyers.

SIHL has agreed to acquire 10,315 Compulsorily Convertible Cumulative Preference Shares having a face value of Rs. 10/- each as part of a larger round. The aggregate shareholding of the Company through SIHL, post this investment, in the said entity would be 32.89% on fully converted & diluted basis.

Shares of Info Edge (India) Limited was last trading in BSE at Rs. 3670.95 as compared to the previous close of Rs. 3724.95. The total number of shares traded during the day was 4594 in over 1027 trades.

The stock hit an intraday high of Rs. 3724.00 and intraday low of 3620.00. The net turnover during the day was Rs. 16833522.00.

Source : Equity Bulls

Keywords

InfoEdgeIndia INE663F01024 StartupInvestmentsHolding Investment AgstackTechnologies