India, Nov. 3 -- Info Edge's board has approved an investment of INR 100 Cr in its wholly owned subsidiary, Redstart Labs to meet Redstart's capital needs, fund potential investments and cover general purposes.

Under the deal, Info Edge will take 100 Mn equity shares of Redstart at a face value of INR 10 each. The deal is expected to fructify within three months. Given that Info Edge already owns 100% stake of Redstart, it will continue to remain a wholly-owned subsidiary.

For context, Redstart invests in startups across deeptech subsectors and SaaS. Its portfolio includes names like Unbox Robotics, BrainSight AI, Skylark Drones, ePlaneCo, CynLr, among a list of 10 investments.

Notably, its books show no turnover for the three years to...