Info Edge Updates Investment in Redstart Labs, Specifies Remaining Tranche Disbursement
Info Edge (India) Limited has provided an update regarding its investment in Redstart Labs (India) Limited, confirming the current financial status against the originally approved commitment. The company confirmed that it has invested a total of Rs. 88.20 Crores into Redstart Labs, which is a wholly owned subsidiary of Info Edge.The management noted that this disbursed amount reflects the progress made against the initial investment approval, which was set at approximately Rs. 100 Crores.
Info Edge stated that the remaining balance of about Rs. 11.80 Crores will be released through one or more tranches in the future. These disbursements are contingent upon the future fund requirements and requests from Redstart Labs.
Regarding the overall investment timeline, Info Edge confirmed that the indicative period for completing the investment of the balance amount has been extended. The remaining funds are expected to be disbursed within the next six months, subject to receiving further drawdown requests from Redstart.
NAUKRI Stock Price Movement
As of 2:21 PM, shares of Info Edge (India) Limited are shedding value in live trading, slipping 1.12% to reach ₹1230.15. The stock has traded a volume of 1.40 million shares so far today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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