You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Info Edge invests Rs 30 cr in Greytip Software

Capital Market 

Info Edge (India) on Wednesday announced that it entered into an agreement to invest about Rs 30 crore in Greytip Software Private Limited.

Info Edge (India) agreed to acquire 3,58,581 Series D Compulsorily Convertible Debentures (CCDs) having face value of Rs 836.631 per Series D CCD. The aggregate shareholding of the company, post investment, would be 28.73% on a fully converted & diluted basis.

Since GreytHR is an associate company of the Info Edge, it is a related party transcation. The investment would help the Info Edge in creating financial value as well as increasing its presence in a business adjacent to one of its core operating businesses.

Greytip Software is a HR and Payroll SaaS company focused on serving SME customers in India and abroad. Its software solutions cover all areas, including employee information management, leave and attendance management, payroll, expense claims, and more. It helps companies in streamlining HR operations and enhancing employee experience, thereby increasing productivity.

As of 31 March 2021, the company had a turnover of Rs 41.34 crore.

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 reported an exceptionally higher standalone net profit of Rs 8,355.72 crore in Q2 FY22 as against a standalone net profit of Rs 51.15 crore in Q2 FY21. Info Edge's net sales stood at Rs 351.7 crore in Q2 FY22, rising by 37.3% over Q2 FY21.

Shares of Info Edge were trading 0.32% lower at Rs 5,979.90 on BSE.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 24 2021. 14:54 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU