Info Edge (India) on Friday said it has invested about Rs 35 crore in Greytip Software, a provider of HR and payroll software solutions.
Info Edge (India) has agreed to acquire 404,696 compulsorily convertible preference shares and 29,948 ordinary shares via mix of primary infusion and secondary purchase, a regulatory filing said.
The aggregate shareholding of the company, post this investment, in the said entity would be 20.25 per cent on fully converted and diluted basis, it added.
Greytip Software was set up in 1994 and started focusing on software as a service (SaaS) in 2011. It has over 9,000 customers spread over 150 cities in India and the Middle East. Its turnover stood at Rs 28.31 crore in 2018-19.
"We strongly believe that this fund raise is pivotal in accelerating Greytip's growth story. We look forward to working with Info Edge given their deep understanding of the HR business and the SaaS space, as we chart out our next wave of growth plans," Greytip Software CEO Girish Rowjee said.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app