Info Edge Approves ₹3 Billion Investment In Subsidiary Startup Internet

Info Edge (India) Ltd. said its board has approved an investment of ₹3.00 billion in its wholly-owned subsidiary Startup Internet Services Ltd. through the subscription of 30 million compulsorily convertible debentures with a face value of ₹100 each.

The investment will enable Startup Internet to explore opportunities including contributions to alternative investment funds, as well as support other general purposes, the company said in an exchange filing.

Startup Internet offers a range of internet, computer, electronics, and related services.