Info Edge's subsidiary Redstart has agreed to invest an aggregate amount of Rs 98,94,000 in Brainsight, the company announced through an exchange filing. The company will be investing through convertible notes.
Brainsight is an existing investee company wherein Redstart holds 4 per cent on a fully converted and diluted basis. But since the convertible note would be converted into shares in the next round basis the valuation at that time, aggregate shareholding of the Company through Redstart, post this investment cannot be estimated at the time of making the intimation.
The investment of Info Edge through Redstart is in furtherance of the company's investment strategy, which includes making external financial investments that are focused on value creation in the medium to long term.
Brainsight is engaged in the business of healthcare technology, where it uses AI enabled application to provide evidence-based treatment hooks for neurosurgeons, psychiatrists and neurologists; and a private and empathetic digital aid for patients, and related business activities.
The company was incorporated on May 31, 2019 with a turnover of Rs 27,59,016.20 in 2022-23.
Info Edge shares
The shares of Info Edge on Monday afternoon at 12:21 pm IST were trading at Rs 4,348.10, down by 1.29 per cent.
