Info Edge India enters into pact to invest about Rs 4 cr in Bizcrum Infotech

Info Edge (India) Ltd on Friday said it has entered into an agreement to invest about Rs 4 crore in Bizcrum Infotech that operates ShoeKonnect.

The company has acquired 1,622 compulsorily convertible preference shares and 10 ordinary shares, Info Edge said in a regulatory filing. "The aggregate shareholding of the company, post this investment, in the said entity would be 32.85 per cent on fully converted diluted basis," it added.

ShoeKonnect is a B2B marketplace that enables footwear brands, manufacturers, wholesalers and retailers to connect and transact with each other.