Info Edge (India) increases stake in 4B Networks with Rs 7cr investment

Info Edge (India) Ltd., the owner of Naukri.com, has increased its stake in Thane-based 4B Networks Private Limited to 19.9% by investing INR 7 crores.

The internet technology company has acquired an additional 1,358 compulsorily convertible preference shares (CCPS) to increase its already held stake of 12.3% in 4B Networks Private Limited from 12.3%.

Incorporated in late 2020, 4B Networks Private Limited is involved in helping real estate developers and brokers to communicate with each other and carry out their business through the broker network platform. The company enables brokers to undertake site visits and offer their clients with home loan related services.

Info Edge (India) increases stake in 4B Networks with Rs 7cr investment. Photo courtesy of Free-Photos from Pixabay.

Info Edge (India) stated: “As part of Company’s strategic investments, the investment would help the Company to strengthen its offering in the real estate segment by providing a new platform to real estate industry professionals to conduct their business efficiently.”

Last month, the pure-play internet company said that its board had approved its INR 61 crore acquisition of Bengaluru-based intelligent recruitment software provider Zwayam Digital.