Info Edge (India) Ltd, the parent company of Naukri.com, announced on Friday that it would invest Rs 10 crore in its wholly-owned subsidiary Zwayam Digital Pvt Ltd. According to a statement from Info Edge, the investment is being made to meet Zwayam’s requirement for working capital.
Zwayam, founded in 2015, is a SaaS-based company that offers solutions for sourcing and screening candidates. In June, Info Edge acquired the firm.
In the last fiscal year, Zwayam generated revenues of Rs 38.53 crore and net profits of Rs 2.55 crore.
“The Company has agreed to acquire 1,000,000-0.0001% Compulsorily Convertible Debentures (“CCDs”) having face value of Rs. 100/- each. Post this investment, Zwayam remains the wholly-owned subsidiary of the Company,” Info Edge said.
