The investment will be routed through its subsidiary Diphda Internet Services floated earlier this month.
“The Company has entered into an agreement with SVF India Holdings (Cayman) ('Soft Bank'), a wholly owned subsidiary of SoftBank Vision Fund L.P., of which SoftBank Group Corp. is a limited partner, whereby Soft Bank has agreed to invest an amount equivalent to about $ 45 million for 49.99% stake (on a fully diluted basis) in Diphda Internet Services ('Diphda'), a wholly owned-subsidiary of the Company, for the time being,” Info Edge (India) said in a statement.
Thereby the company has also agreed to invest an amount equivalent to about $ 45 million in Diphda for 50.01% stake (on a fully diluted basis); and to jointly invest through Diphda, an amount equivalent to about $ 90 million in Etechaces Marketing & Consulting Pvt. Ltd. ('Etechaces') for 8.93% stake (on a fully diluted basis post completion of fund raise exercise with other investors), it added.
At 09:57 am; Info Edge (India) was trading 6% higher at Rs 1,250 on the BSE, as compared to 0.11% rise in the S&P BSE Sensex. A combined 217,344 shares changed hands on the counter on the NSE and BSE so far.