Info Edge Invests in Greytip Software
New Delhi based Info Edge has invested about Rs 35 crore in Greytip Software, a provider of HR and payroll software solutions.
Info Edge (India) has agreed to
acquire 404,696 compulsorily convertible preference shares and 29,948
ordinary shares via mix of primary infusion and secondary purchase, a
regulatory filing said.
The aggregate shareholding of the company, post this investment, in
the said entity would be 20.25 per cent on fully converted and diluted
basis, it added.
Greytip Software was set up in 1994 and started
focusing on software as a service (SaaS) in 2011. It has over 9,000
customers spread over 150 cities in India and the Middle East. Its
turnover stood at Rs 28.31 crore in 2018-19.
"We strongly believe
that this fund raise is pivotal in acceleratin...