Stocks

Info Edge India to sell entire stake in Applect Learning Systems

| Updated on January 03, 2020 Published on January 04, 2020

Info Edge India has entered into an agreement for divestment of its entire shareholding, on fully converted and diluted basis, (including holding through its wholly-owned subsidiary) in Applect Learning Systems Private Ltd (Meritnation). Taking into consideration the independent valuation report, the sale value of the investment is determined at about ₹50 crore, it said.

Meritnation delivers KG to Class 12 (K-12) study material, through its web site. The shareholding has been agreed to be bought by Aakash Educational Services. The stock gained 1.3 per cent at ₹2,565.05 on the BSE.

Published on January 04, 2020
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.