Info Edge(India) Ltd. — Capital/Financing Update 2021

Nov 21, 2021

Date: November 21, 2021

1. The Manager- Listing National Stock Exchange of India Limited

(Scrip Code: NAUKRI)

2. The Manager- Listing BSE Limited (Scrip Code: 532777)

Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015

Dear Sir/Madam ,

This is to inform you that the Company has invested an amount of about Rs.45 Crores in Redstart Labs (India) Ltd., wholly owned subsidiary of the Company. The details of the transaction are given as under:

Sl.	Particulars	Details
No.
1.	Name of the target entity, details in brief such as size, turnover etc.	Redstart Labs (India) Ltd. (“Redstart”) Registered Office Address:Ground Floor, 12A 94, Meghdoot, Nehru Place Delhi- 110019 Turnover(As on 31.03.2021): Nil
2.	Whether the acquisition would fall within related party transaction(s) and whether the promoter/promoter group/group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”	The Company already holds 100% stake in Redstart on a fully converted and diluted basis. Accordingly, it is a wholly owned subsidiary of the Company in accordance with the Companies Act, 2013 and hence falls in the category of a related party as on the date of making this investment. Promoters of the Company have no interest in the said investment. The transaction is done at Arm’s Length basis.
3.	Industry to which the entity being acquired belongs	Redstart is engaged in the business of providing all types of Internet services, development of software, consultancy, technical support for consumer companies, internet or SAAS providers, and any other services in the area of information technology and product development.

4.	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity.		As part of company’s investments, the present investment allows Company to strengthen the financial health of its mentioned wholly-owned subsidiary enabling it to offer improved services helping it to diversify, organically and/or inorganically, into other connected areas.	As part of company’s investments, the present investment allows Company to strengthen the financial health of its mentioned wholly-owned subsidiary enabling it to offer improved services helping it to diversify, organically and/or inorganically, into other connected areas.	As part of company’s investments, the present investment allows Company to strengthen the financial health of its mentioned wholly-owned subsidiary enabling it to offer improved services helping it to diversify, organically and/or inorganically, into other connected areas.
5.	Brief details of any governmental or regulatory approvals required for the acquisition.		Not Applicable.
6.	Indicative time period for completion of acquisition		Immediate
7.	Nature of Consideration- whether cash consideration or share swap and details of the same.		Cash Consideration
8.	Cost of acquisition or the price at which the shares are acquired.		About Rs. 45 Crores.
9.	Percentage of shareholding/control acquired and/ or number of shares acquired.		The Company has agreed to acquire 45,00,000-0.0001% Compulsorily Convertible Debentures (“CCDs”) having face value of Rs. 100/- each, convertible within a period not exceeding 10 (Ten) years, at any time from the date of allotment on agreed terms and conditions.
10.	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief).		Redstart was incorporated on July 7, 2020 and is engaged in the business of providing all types of Internet services, development of software, consultancy, technical support for consumer companies, internet or SAAS providers, and any other services in the area of information technology and product development. Last threeyears turnover:(Rs.) 2020-2021 2019-2020 2018-2019 Nil NA NA
			2020-2021	2019-2020	2018-2019
			Nil	NA	NA

This is for your information and records.

Thanking You.

Yours faithfully, For Info Edge (India) Ltd.

MM Jain SVP- Secretarial & Company Secretary