Info Edge invests ₹135.4 crore in Ninjas
2022-10-06
Info Edge invests 135.4 crores in Coding Ninja and gets a majority stake of 51%. The investment will help Coding Ninja and Naukri to collaborate with each other in business.
Coding Ninjas was founded in 2016 by Ankush Singla, Kannu Mittal, and Dhawal Parate. The media reports mentioned that it will help Info Edge explore and maximise business collaboration between the two platforms, Naukri and Coding Ninjas.
Coding Ninjas is an ed-tech platform that focuses on teaching coding and other programming courses to beginners. This investment will help Info Edge explore and maximise business collaboration between the two platforms, Naukri and Coding Ninjas.
“The shareholding of the Company in Coding Ninjas is currently about 26% and the aggregate shareholding of the Company, post this investment, in Coding Ninjas would be 51% on a fully converted and diluted basis. Accordingly, Coding Ninjas would become a subsidiary of the Company,” Info Edge said in its regulatory filings.
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