Info Edge, Parent Company of Naukri.com, Commits INR 10 Crore Investment in Zwayam
- ByStartupStory | August 19, 2023
Info Edge (India) Ltd., the parent company of Naukri.com, has announced its intention to invest INR 10 crore in its wholly-owned subsidiary, Zwayam Digital Pvt Ltd. This investment aims to fulfill Zwayam’s working capital requirements, according to a statement from Info Edge.
Zwayam, which was established in 2015, specializes in providing SaaS-based solutions for sourcing and screening recruitment needs. Info Edge acquired the company in June.
In the previous fiscal year, Zwayam reported a turnover of INR 38.53 crore and a net profit of INR 2.55 crore.
As part of the investment agreement, Info Edge will acquire 1,000,000 Compulsorily Convertible Debentures (CCDs), each with a face value of INR 100. Following this investment, Zwayam will continue to operate as a wholly-owned subsidiary of Info Edge.
The trading of Info Edge shares on BSE showed a decline of 2.59 percent, with a pre-close session value of INR 4,190.20.
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