Naukri.com parent Info Edge (India) Ltd on Friday said it will invest Rs 10 crore in its wholly-owned subsidiary Zwayam Digital Pvt Ltd.
The investment is being done to meet the working capital requirement of Zwayam, Info Edge said in a statement. Incorporated in 2015, Zwayam provides SaaS-based sourcing and screening recruitment solutions. Info Edge acquired the company in June. Zwayam had a turnover of Rs 38.53 crore and a net profit of Rs 2.55 crore in the last fiscal.
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“The Company has agreed to acquire 1,000,000-0.0001% Compulsorily Convertible Debentures (“CCDs”) having face value of Rs. 100/- each. Post this investment, Zwayam remains the wholly-owned subsidiary of the Company,” Info Edge said.
Info Edge shares were trading 2.59 per cent lower at Rs 4,190.20 on BSE in the pre-close session.