New Delhi, Sep 13 (PTI) Info Edge (India) Ltd on Friday said it has entered into an agreement to invest about Rs 4 crore in Bizcrum Infotech that operates ShoeKonnect.

The company has acquired 1,622 compulsorily convertible preference shares and 10 ordinary shares, Info Edge said in a regulatory filing. "The aggregate shareholding of the company, post this investment, in the said entity would be 32.85 per cent on fully converted diluted basis," it added.

ShoeKonnect is a B2B marketplace that enables footwear brands, manufacturers, wholesalers and retailers to connect and transact with each other.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)