For INR 11.25 crore, Info Edge buys a 25% stake in Juno Learning, an edtech startup
- ByStartupStory | February 16, 2022
Info Edge Ltd announced to the stock markets on Tuesday that it has purchased a 25% share in Gurugram-based Juno Learning for Rs 11 crore. Zomato and Shiksha are among the firms in Info Edge’s portfolio.
As a main acquisition of shares, the business has committed to purchase 4,331 compulsorily convertible preference shares with a face value of Rs. 10/- each. According to Info Edge, the company’s total stake in the stated corporation after this investment would be 25 percent on a fully converted and diluted basis.
Juno is an interactive online school founded by Tarun Matta that teaches sales tactics, procedures, and tools to entry-level professionals and students in an experience way in order to improve employability.
On the National Stock Exchange (NSE), Info Edge shares were trading 3.73 percent higher at 4,679.85 per share on Tuesday.
The investment would assist Info Edge establish and consolidate its presence in the specialist sector of “sales upskilling” as part of the goal. Info Edge stated in a filing that it fits nicely into the company’s plan to invest in adjacencies to the recruiting and education verticals and generate synergies with its existing operations.
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