Info Edge invests Rs 135.4 crore in Coding Ninjas
Noida-based internet gianthas invested Rs 135.4 crore in edtech startup , becoming a majority shareholder in the startup by increasing its stake from 26% to 51%.
“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.
The latest investment pegs Delhi-based Coding Ninjas' approximate valuation at Rs 541 crore.
This investment would help Info Edge to explore and maximise business synergies between the two platforms, Naukri and Coding Ninjas.
Founded in 2016 by Ankush Singla, Kannu Mittal, and Dhawal Parate, Coding Ninjas is an edtech platform that focuses on teaching coding and other programming courses to beginners.
Coding Ninjas clocked a turnover of Rs 28.9 crore in the Financial Year 2022, an increase of 45.2% from FY21 when it clocked Rs 19.9 crore in turnover.
Last month, the Naukri parent acquired a 23.01% stake in vernacular test-prep startup Adda247.
Edited by Affirunisa Kankudti