Redstart Labs India Ltd to invest in Nexstem India Pvt Ltd

Redstart Labs (India) Ltd. ("Redstart"), a wholly-owned subsidiary of Info Edge (India) Ltd. in its meeting of the Board of Directors, held today i.e. September 30, 2024 has agreed to invest an amount of about Rs. 4.2 Crores in Nexstem India Private Limited.

The Board of Directors of Redstart has agreed to acquire 8,252 - 0.001% Compulsorily Convertible Preference Shares as primary acquisition of shares as part of a larger round. The aggregate shareholding of the Company through Redstart, post this investment, in the said entity would be 5% on fully converted & diluted basis.

This investment by the Company through Redstart is in furtherance of Company's investment strategy, which includes making external financial investments that are focused on value creation in the medium to long term.

Nexstem started operations in 2023 offering to democratize Brain-Computer Interface (BCI) technology and leverage our expertise in neurotech research and engineering to create a comprehensive BCI ecosystem, allowing organizations to integrate BCI into their products effortlessly and to help people interact with technology using their brain signals.

Shares of Info Edge (India) Limited was last trading in BSE at Rs. 8077.35 as compared to the previous close of Rs. 8176.20. The total number of shares traded during the day was 6220 in over 1301 trades.

The stock hit an intraday high of Rs. 8223.00 and intraday low of 8027.95. The net turnover during the day was Rs. 50649502.00.

Source : Equity Bulls

Keywords

InfoEdgeIndia INE663F01024 RedstartLabsIndia Investment NexstemIndia