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Info Edge invests additional Rs 15 crore to increase stake in 4B Networks, Real Estate News, ET RealEstate

NEW DELHI: Info Edge (India) Ltd announced on Monday that it has invested an additional 15 million rupees, through its wholly owned subsidiary, in 4B Networks. This investment is in the exercise of a right available to the company to subscribe for 4,245 additional securities for an amount of up to Rs 15 crore, he said in a regulatory file.

The company already owns 19.9% ​​of the capital of 4B on a fully diluted and converted basis. Turnout has now increased to 37.03 percent.

4B, which was incorporated in November of last year, is in the business of enabling real estate developers and real estate brokers to communicate with each other and conduct their business through the broker network platform. He helps brokers to conduct site visits and provide mortgage related services to their clients.

“The company has agreed to acquire an additional 4,245 mandatory convertible preferred shares (CCPS) to increase its stake in 4B from 19.9% ​​to 37.03% on a fully diluted and converted basis,” the file said.

He added: “As part of the company’s strategic investments, the investment would help the company to strengthen its offering in the real estate segment by providing a new platform for real estate professionals to conduct their business. effectively.

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