Info Edge (India) Limited — JV/Acquisition, 19-11-2024: Acquisition

The company has agreed to invest ₹3 Crores in NewInc Internet Services Pvt. Ltd., a step-down wholly owned subsidiary. This investment will be in the form of 3,00,000 Compulsorily Convertible Debentures (CCDs) at a face value of ₹100 each, aimed at supporting NewInc's working capital and general corporate needs. NewInc, incorporated in December 2016, has had no turnover in the past three years and operates in internet and data processing services. Following this investment, NewInc will continue to be a wholly owned subsidiary of the company, with the completion expected within 30 days.