Info Edge India Ltd. to invest Rs. 37.10 crore in CodingNinjas.

Info Edge India Ltd. has entered into an agreement to invest about Rs.37.10 Crores via a mix of primary and secondary purchase of shares in Sunrise Mentors Private Limited.

Sunrise is engaged in the business of providing online education and operates an e-learning platform - CodingNinjas.

As part of Company's strategic investments, the investment would help the Company to expand its presence in the online upskilling and reskilling education content business, which has long tenn synergies with the recruitment and education business of the Company.

Upskilling and reskilling is slowly becoming an important piece in the recruitment industry, especially in technology, where jobseekers need to continuously upskill and reskill themselves to remain relevant in the job market. Butjobseekers looking to upskill and reskill, want a clear attribution before spending significant sums of money for such education. This need for attribution is giving rise to new business models such as Income Sharing Agreements (ISA) or Pay after Placements (PAP), where jobseekers pay after getting successfully placed. These emerging trends are slowly leading to diminishing of the line between education and recruitment.

The Company has agreed to acquire shares for an aggregate amount of about Rs. 37.10 Crores via a mix of primary and secondary purchase of shares. The aggregate shareholding of the Company, post this investment, in Sunrise would be 25% on a fully converted & diluted basis.

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