Info Edge Ltd on Tuesday informed the stock exchanges that it has acquired 25% stake in Gurugram-based Juno Learning for 11 crore. Info Edge’s portfolio includes Zomato, Shiksha among other companies.
The company has agreed to acquire 4,331 compulsorily convertible preference shares having face value of Rs. 10/- each as primary acquisition of shares. The aggregate sharingholding of the company, post this investment, in the said entity would be 25% on a fully converted & diluted basis, Info Edge said.
Founded by Tarun Matta, Juno is building an interactive online school that teaches sales techniques, processes, and tools to entry-level professionals and students in an experiential manner, to enhance employability.
On Tuesday, Info Edge shares were trading 3.73% higher at ₹4,679.85 apiece on NSE.
As part of the strategy, the investment would help Info Edge create and consolidate its presence into a niche vertical of “sales upskilling”.
It perfectly fits into the company’s playbook to invest in adjacencies to recruitment and education verticals and create synergies with its existing businesses, Info Edge said in a filing.
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