• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, June 18, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Info Edge infuses Rs 300 crore in Startup Investments

by Disha Mitra
August 14, 2022
in Business, News, Startups, Tech
Reading Time: 2 mins read
0
Info edge logo depicted

Source: Equity Bulls

TwitterWhatsappLinkedin
Image depicted Rupee notes and coins
Info Edge infuses Rs 300 crore in Startup Investments Holding Ltd.
Source: CNBC TV 18

Sanjeev Bikhchandani’s Info Edge has reportedly made a new investment of an amount of Rs 300 crore in Startup Investments Holding Ltd (SIHL), its subsidiary. The IT firm made the revelation in a regulatory filing on August 13, and already holds ownership of portals such as Naukri and 99Acres.

You might also like

Google Pixel 10 Series to Debut Tele-Macro Camera and Tensor G5 SoC

Adobe’s Firefly Expands to iOS and Android, Bringing Powerful AI Tools to Mobile Devices

Kids Stage Virtual Protests Against ICE on Roblox as National Unrest Grows

As of now, the IT company clearly holds 100% stake in SIHL- Startup Investments (Holding) Ltd which is essentially an investment and holding organisation. Mainly, it was a subsidiary based on full conversion and dilution. According to the exchange filing, this new investment would aid the company in the exploration of new investment chances. This includes the contribution to Alternative Investment Funds which Smartweb Internet Services manages.

The subsidiary was assimilated on March 4, 2015, and is involved in the business of being an investment and holding organisation. Moreover, it has had a zero turnover for the last three years. In the report, Info Edge stated that its net profit went up by 85% year on year to Rs 292 crore in the first quarter of FY23, as opposed to the Rs 158 crore at the same time last year.

The increase in its earning was a whopping 130% to Rs 874 crore in this year’s first quarter against Rs 381 as reported in the same period. The EBITDA for that period was stuck at Rs 163 crore, an increase of 57%. The billing stated Rs 415 crore, signifying a 65% year over year increase.

The statement from the company:

Info Edge’s managing director Hitesh Oberoi stated that the recruitment process is going on to progress adequately as the organisation stays positive about the present quarter’s earnings as well. The CFO, Chintan Thakkar stated how the continuous increase in its billings and profitability for yet another quarter in a row shows the momentum thats returned in its business.

Further, the filing stated how the company is in agreement to buy 0.0001% or 3 crore worth of CCDs- Compulsorily Convertible Debentures possessing the face value of Rs 100 each. These would be convertible within a time span of not any more than a decade, at any given point from the time of allotting on the terms and conditions agreed upon.

This week, Info Edge founder Sanjeev Bikhchandani stated how he was not in a rush to exit the company’s stake in companies like Zomato and Policy Bazaar. However, the board would still conduct a review of the situation later on in the future.

Tags: Info EdgeInvestSanjeev BikhchandanistartupStartup InvestmentsTech news
Tweet54SendShare15
Previous Post

Arrival to focus only on van project with 20 units production this year

Next Post

Go Digit Insurance IPO soon? Likely to file DHRP this week

Disha Mitra

Recommended For You

Google Pixel 10 Series to Debut Tele-Macro Camera and Tensor G5 SoC

by Anochie Esther
June 18, 2025
0
Pixel 10 series

Google is set to unveil its Pixel 10 series on August 20, and early leaks have already started shedding light on some exciting new features. One of the...

Read more

Adobe’s Firefly Expands to iOS and Android, Bringing Powerful AI Tools to Mobile Devices

by Anochie Esther
June 18, 2025
0
Firefly

Adobe has officially extended its Firefly platform to mobile users with the launch of dedicated apps for iOS and Android. The move signals a significant evolution in Adobe’s...

Read more

Kids Stage Virtual Protests Against ICE on Roblox as National Unrest Grows

by Harikrishnan A
June 18, 2025
0
Kids Stage Virtual Protests Against ICE on Roblox as National Unrest Grows

As political tensions over immigration enforcement continue to boil across the United States, an unexpected group has taken a stand—kids. But rather than taking to the streets, they’re...

Read more
Next Post
Digit Insurance secured $84 million from domestic PEs

Go Digit Insurance IPO soon? Likely to file DHRP this week

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?