Info Edge to acquire 25% stake in Juno

Info Edge (India) said that it has entered into an agreement to acquire securities in Juno Learning (Juno) for an amount of about Rs 11.25 crore.

Juno is engaged in the business, which is an interactive, online school that teaches sales techniques, processes, and tools to students and entry-level professionals in an experiential manner, to enhance employability. Juno is newly incorporated and is under first year of its operations.

As part of the Info Edge's strategy, the investment would help the company create and consolidate its presence into a niche vertical of "Sales upskilling". It perfectly fits into the company's playbook to invest in adjacencies to recruitment and education verticals and create synergies with its existing businesses.

The company has agreed to acquire 4,331 compulsorily convertible preference shares having face value of Rs 10 each as primary acquisition of shares. The aggregate shareholding of the company, post this investment, in the said entity would be 25% 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.

The scrip shed 0.99% to currently trade at Rs 4632.60 on the BSE.

Powered by Capital Market - Live News