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Info Edge invests Rs 8.67 crore in its step down subsidiary Canvera Digital Technologies

Internet giant and parent of Naukri, a job website, Info Edge (India) Ltd (Info Edge) has invested Rs 8.67 crore in Canvera Digital Technologies Pvt Ltd (Canvera), through its wholly-owned subsidiary. Canvera its step down subsidiary Canvera is a step down susbidiary of Info Edge. The transaction is arm's length, according to Info Edge. Canvera will issue 7,77,419 0.1% optionally convertible cumulative redeemable preference shares having a face value of Re 1 each at a premium of Rs 110.48. The aggregate shareholding of the company in the said entity would be 62.22% on fully converted and diluted basis.

Canvera has a Pan India presence and is engaged in the business of providing photography related services to professional photographers/ channel partners/ consumers including online photographer classifieds, IT enabled design services, printed products like photobooks, calendars and prints using internet and soft ware.

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