The company’s aggregate shareholding, after this investment, in the said entity will be 28.73 percent on a fully converted and diluted basis, it added.
”This investment will help the company create financial value as well as increase its presence in a business adjacent to one of its core operating businesses,” the filing said.
Greytip Software is an HR and payroll SaaS company focused on serving SME customers in India and abroad. It’s software solutions cover all areas, including employee information management, leave and attendance management, payroll, and expense claim.
It helps companies in streamlining HR operations and enhancing the employee experience, thereby increasing productivity.
Incorporated in November 1994, Greytip was an enterprise HR tech company serving the needs of large businesses with its on-premise solutions in its earlier avatar. In 2011, it shifted gears and started focusing on SMB SaaS solutions.
With deployments at over 13,500 customers spread across 150 cities in India, the Middle East, and Southeast Asia, GreytHR now can implement and process payroll in over 20 countries.
At its current scale, more than 1.4 million payslips are generated on the platform every month. Its turnover in 2020-21 stood at Rs 41.34 crore.