Info Edge (India) has approved investment of Rs 30 crore in Redstart Labs (India), wholly-owned subsidiary of the company.
The Company has agreed to acquire 3,000,000 Compulsorily Convertible Debentures (CCDs) having face value of Rs. 100/- each. Post this investment, Redstart remains the wholly-owned subsidiary of the company.
Redstart is engaged in the business of direct or indirect investments in tech companies and providing all types of Internet services, development of software, consultancy, technical support for consumer companies, internet or SAAS providers, and any other services in the area of information technology and product development.