Info Edge invests Rs 5 cr in Redstart Labs

Info Edge invests Rs 5 cr in Redstart Labs

The investment is to strengthen Redstart financially enabling it to explore investment opportunities.

FPJ Web DeskUpdated: Saturday, March 18, 2023, 12:30 PM IST
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Info Edge invests Rs 5 cr in Redstart Labs | LinkedIn

Info Edge on Saturday announced its investment of Rs 5 crore in Redstart Labs India Limited, a wholly owned subsidiary of the company, through an exchange filing. The company holds 100 per cent stake in Redstart on a fully converted and diluted basis.

The investment is to strengthen Redstart financially enabling it to explore investment opportunities.

Redstart is engaged in the business of providing all types of Internet services, consultancy, development of software, technical support for consumer companies, SAAS providers and any other services in the area of information technology and product development. The company's net worth is Rs 4,778,598 with a PAT of Rs 2,837,433 but it has reported no turnover.

Info Edge shares

The shares of Info Edge on Friday closed at Rs 3,489, up by 1.84 per cent.

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