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Brainsight is engaged in the business of healthcare technology, where it uses AI enabled application to provide evidence-based treatment hooks for neurosurgeons, psychiatrists and neurologists; and a private and empathetic digital aid for patients, and related business activities. Its turnover for financial year 2022-2023 was Rs 27,59,016.20.
Redstart has agreed to invest an aggregate amount of Rs 98,94,000 by way of subscribing to convertible notes.
This said investment by the company through Redstart is in furtherance of company's investment strategy, which includes making external financial investments that are focused on value creation in the medium to long term.
Brainsight is an existing investee company wherein Redstart holds 4% on a fully converted & diluted basis hence the transaction is done at Arm's Length basis.
Info Edge (India) is among the leading internet companies in India. The company runs leading internet businesses viz. Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. It has made significant strategic investments such as zomato.com, policybazaar.com and happily unmarried.com etc.
The company reported consolidated net loss of Rs 272.83 crore in Q4 FY23 as compared with net profit of Rs 628.89 crore in Q4 FY22. Revenue from operations jumped 27.9% year on year to Rs 604.78crore in Q4 FY23.
Shares of Info Edge (India) declined 1.24% to Rs 4,348.50 on the BSE.
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