Info Edge (India) Ltd has invested an amount of Rs. 5 Crores in Redstart Labs (India) Ltd., wholly owned subsidiary of the Company.
The Company already holds 100% stake in Redstart on a fully converted and diluted basis. Accordingly, it is a wholly owned subsidiary of the Company in accordance with the Companies Act, 2013 and hence falls in the category of a related party as on the date of making this investment.
Redstart is engaged in the business of providing all types of Internet services, development of software, consultancy, technical support for consumer companies, internet or SAAS providers, and any other services in the area of information technology and product development.
Shares of Info Edge (India) Limited was last trading in BSE at Rs. 3488.95 as compared to the previous close of Rs. 3425.85. The total number of shares traded during the day was 11898 in over 2417 trades.
The stock hit an intraday high of Rs. 3507.00 and intraday low of 3434.90. The net turnover during the day was Rs. 41423798.00.