Info Edge picks up stake in Wishbook Infoservices for Rs 3.5cr

Info Edge, which runs online job portal Naukri.com, today said it has invested Rs 3.5 crore in Wishbook Infoservices through its wholly-owned subsidiary.

"As part of the company's strategic investments, the acquisition (of stake) would help the company to diversify its presence into a new line of business within the Internet services industry," Info Edge said in a BSE filing.

The shareholders' agreement/investment agreement was signed on July 25, 2017, it added.

"The aggregate shareholding of the company (Info Edge) in the said entity (Wishbook) would be 21.88 per cent on fully converted and diluted basis," it said.

Set up in April 2016, Wishbook runs an app that allows catalogue distribution from manufacturers down to retailers and salespersons, who can show these catalogues and take orders.

Info Edge has also made significant strategic investments into emerging Internet companies like Zomato, Meritnation, Policybazaar, Canvera and Happily Unmarried.

Apart from Naukri, Info Edge also owns Jeevansathi.com (matrimonial portal), 99acres.com (real estate portal) and Shiksha.com, an education website.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)