Info Edge has received $7m from Aakash Educational Services for its stake in the study materials provider, in which it had invested upwards of $21m.
Classified listings operator Info Edge is selling its stake in Applect Learning Systems, the India-based study material provider also known as Meritnation, Press Trust of India has reported.
The company is divesting the stock for Rs 500m ($7m) to medical exam preparation service Aakash Educational Services, according to a Bombay Stock Exchange filing cited by PTI. The deal is expected to close by the end of March 2020.
Meritnation offers study materials, exam preparation and practice tests in addition to…
