Palred Technologies to invest Rs 30 crore in Palred Online Technologies

Post investment valuation of LatestOne.com stands at Rs 225 crore

Palred Technologies announced that its Board, in the Meeting held on 11 April 2017, approved investment of Rs 30 crore in its subsidiary Palred Online Technologies which owns and operates LatestOne.com - lndia's largest e-tailer for mobile accessories.

Post this investment, LatestOne.com will be valued at Rs 225 crore. The actual cash infusion into LatestOne.com, post this round will be Rs 60 crore, making it one of the most capital efficient vertical focused e-tailers in the Country.

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