Info Edge India Ltd has invested an amount of Rs.140 Crores in Allcheckdeals India Pvt. Ltd. (ACD), wholly owned subsidiary of the Company. The Company already holds 100% stake in ACD on a fully converted and diluted basis. Accordingly, it is a wholly owned subsidiary of the Company and engaged in the business of Brokerage services in the real estate sector in India.
The said investment is to further strengthen the Wholly owned Subsidiary financially in order for it to pursue its strategy of developing services with the use of technology and innovative business models in the large sized and rapidly growing real estate vertical through organic or inorganic channels. This would enhance value of the Company’s investments on the one hand and on the other, it will boost synergies with the Company’s operating business in the same vertical.