Info Edge (India) has invested Rs 30 crore in Redstart Labs (India) , wholly-owned subsidiary of the Company. The Company already holds 100% stake in Redstart on a fully converted and diluted basis. The transaction is done at Arm's Length basis.
The Company has agreed to acquire 3,000,000 Compulsorily Convertible Debentures (CCDs) having face value of Rs. 100/- each. Post this investment, Redstart remains the wholly-owned subsidiary of the Company.
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