Info Edge (India) enters into agreement with Soft Bank for joint investment

Info Edge (India) announced that subject to requisite regulatory & other approvals, as may be applicable, including that of Foreign Investment Facilitation Portal (FIFP), the company has entered into agreement :

1. with SVF India Holdings (Cayman) ('Soft Bank'), a wholly owned subsidiary of SoftBank Vision Fund L.P., of which SoftBank Group Corp. is a limited partner, whereby Soft Bank has agreed to invest an amount equivalent to about USD 45Mn. for 49.99% stake (on a fully diluted basis) in Diphda Internet Services ('Diphda'), a wholly owned-subsidiary of the Company, for the time being.

2. whereby the Company has also agreed to invest an amount equivalent to about USD 45Mn. in Diphda for 50.01% stake (on a fully diluted basis); and

 

3. to jointly invest through Diphda, an amount equivalent to about USD 90Mn. in Etechaces Marketing & Consulting ('Etechaces') for 8.93% stake (on a fully diluted basis post completion of fund raise exercise with other investors).

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