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Info Edge to invest Rs 37.10 cr in Sunrise Mentors

Press Trust of India  |  New Delhi 

Info Edge (India) Ltd on Monday said it will invest about Rs 37.10 crore in Sunrise Mentors Pvt Ltd that operates e-learning platform Coding Ninjas.

"The company has agreed to acquire shares for an aggregate amount of about Rs 37.10 crore (for a cash consideration) via a mix of primary and secondary purchase of shares," Info Edge said in a regulatory filing.

The firm's aggregate shareholding, post this investment, in Sunrise would be 25 per cent on a fully converted and diluted basis, it added.

Set up in May 2016, Sunrise primarily sells short-term to mid-term courses in programming and data sciences created by the in-house team.

These courses are primarily availed by job seekers looking to upskill and reskill themselves.

Recently, Sunrise also launched a new programme called Coding Ninjas Career Camp, which instead of charging students upfront for the courses, charges them after successfully placing them.

Sunrise had a turnover of Rs 5.57 crore as on March 31, 2019.

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

First Published: Mon, February 10 2020. 21:20 IST