Info Edge (India) has invested an amount of Rs.15 crore in Smartweb Internet Services, wholly owned subsidiary of the Company. The Company already holds 100% stake in Smartweb on a fully converted and diluted basis. Accordingly, it is a wholly owned subsidiary of the Company in accordance with the Companies Act, 2013 and hence falls in the category of a related party as on the date of making this
investment.
Smartweb is engaged in the business of providing all kinds of internet services and to act as investment advisor, financial consultant, management consultant, investment manager and/or sponsor of alternative investment fund(s).
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