Info Edge (India) Ltd on Monday said it will invest about Rs 37.10 crore in Sunrise Mentors Pvt Ltd that operates e-learning platform Coding Ninjas.
“The company has agreed to acquire shares for an aggregate amount of about Rs 37.10 crore (for a cash consideration) via a mix of primary and secondary purchase of shares,” Info Edge said in a regulatory filing.
The firm’s aggregate shareholding, post this investment, in Sunrise would be 25 per cent on a fully converted and diluted basis, it added.
Set up in May 2016, Sunrise primarily sells short-term to mid-term courses in programming and data sciences created by the in-house team.
These courses are primarily availed by job seekers looking to upskill and reskill themselves.
Recently, Sunrise also launched a new programme called Coding Ninjas Career Camp, which instead of charging students upfront for the courses, charges them after successfully placing them.
Sunrise had a turnover of Rs 5.57 crore as on March 31, 2019. PTI SR