Sanjeev Bikhchandani-led internet- based Info Edge is investing nearly INR 135.4 Cr in Coding Ninjas to acquire a majority stake in the edtech startup.
Coding Ninjas provides online coding training. It also provides courses in artificial intelligence, machine learning, and other cutting-edge technologies. According to the stock exchange filing, the investment will consist of a mix of primary and secondary share purchases. Following the investment, Info Edge will own 22,836 Compulsorily Convertible Preference Shares (CCPS) and 27,089 equity shares in Coding Ninjas, increasing its stake to 51% from 26%. Coding Ninjas will become a subsidiary of Info Edge as part of the agreement. The agreement will aid Info Edge in capitalising on business synergies between its job portal Naukri and CodingNinjas.