Info Edge invests Rs 91 cr in Aisle Network

Info Edge after market hours on Friday announced that it has invested an amount of about Rs 91 crore in Aisle Network Private Limited through its wholly owned subsidiary.

Aisle is engaged in the business of running multiple dating platforms on the web via its mobile apps Aisle, Anbe, Arike and HeyDil.

Info Edge said the investment is done as a strategic investments that would help to strengthen its offerings in the match making segment by addressing the needs of people of different age groups and beliefs, searching for a suitable match for them.

The company has agreed to acquire 21,483 shares comprising 11,699 Compulsorily Convertible Preference Shares (CCPS) and 9,784 equity shares via mix of primary infusion and secondary purchase. The aggregate shareholding of the company, post this investment, in the said entity would be about 76% on a fully converted & diluted basis.

Info Edge (India) is among the leading internet companies in India. The company runs leading internet businesses viz. Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. It has made significant strategic investments such as zomato.com, policybazaar.com and happily unmarried.com etc.

The company reported 90.7% rise in standalone net profit to Rs 133.25 crore in Q3 FY22 from Rs 69.87 crore in Q3 FY21. Net sales increased by 48.1% YoY to Rs 403.26 crore during the quarter.

Shares of Info Edge were trading 1.38% lower at Rs 4,281.50 on BSE.

Powered by Capital Market - Live News