Info Edge to invest Rs10 cr in Zwayam

New Delhi: Naukri.com parent Info Edge (India) Ltd on Friday said it will invest Rs 10 crore in its wholly-owned subsidiary Zwayam Digital Pvt Ltd. The investment is being done to meet the working capital requirement of Zwayam, Info Edge said in a statement. Incorporated in 2015, Zwayam provides SaaS-based sourcing and screening recruitment solutions. Info Edge acquired the company in June. Zwayam had a turnover of Rs 38.53 crore and a net profit of Rs 2.55 crore in the last fiscal. “The Company has agreed to acquire 1,000,000-0.0001 per cent Compulsorily Convertible Debentures (“CCDs”) having face value of Rs100 each. Post this investment, Zwayam remains the wholly-owned subsidiary of the Company,” Info Edge said.