INFO EDGE (INDIA) LTD. to Invest Rs. 30 Crores in Wholly-Owned Subsidiary Redstart Labs (India) Limited

INFO EDGE (INDIA) LTD., a company listed on the stock exchange, has announced its decision to invest an amount of Rs. 30 Crores in Redstart Labs (India) Limited, its wholly-owned subsidiary. The subsidiary is engaged in the business of direct or indirect investments in tech companies and providing all types of Internet services, software development, consultancy, technical support for consumer companies, internet or SAAS providers, and any other services in the area of information technology and product development. The investment is being made to meet the capital requirements and explore investment opportunities. The transaction is expected to be completed within 30 days from the approval and is done at Arm’s Length basis. Post this investment, Redstart will remain the wholly-owned subsidiary of the Company. Redstart was incorporated in July 7, 2020 and has a nil turnover for the last three years.