Info Edge has acquired an additional stake in Sunrise Mentors Private Limited (Coding Ninjas), thereby becoming its majority (51%) shareholder.
Saraf and Partners acted for and advised Info Edge in this transaction.
The transaction team consisted of Vaibhav Kakkar (Partner), Snigdhaneel Satpathy (Partner), Akshay Jain (Partner), Aditi Sharma (Senior Associate), Anuj Garg (Associate) and Prarthna Bathija (Associate).
AP & Partners acted for the Founders and Coding Ninjas on the transaction.
The proposed acquisition by Info Edge will be undertaken by way of a mix of primary issuance and secondary purchase of shares of Coding Ninjas from its Founders and other shareholders for an aggregate consideration of ₹134.5 crore. Info Edge will also have an option to enhance its stake in future. Through this proposed investment, Info Edge and Coding Ninjas intend to explore and maximize business synergies and fuel further growth and penetration in the recruitment and ed-tech industry.
Coding Ninjas, headquartered in Delhi, is a leading ed-tech company operating an e-learning platform – ‘Coding Ninjas’, which provides online coding and programming courses to both students and professionals in India.
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