Info Edge (India) Limited, which operates websites such as JeevanSaathi, Naukri.com, Shiksha.com, and 99acres.com, to name a few; raised Rs 1875 Cr via qualified institutional placement offering or QIP.
QIP is a mechanism used by public companies to sell shares or other securities, which are converted into stocks, to qualified institutional buyers including mutual funds and insurance companies.
Info Edge’s fundraising committee has authorized the opening of the QIP with the floor price of Rs 3,188.18 per equity share.
The company, at its disposition, has also offered a discount of up to 5% on the floor price. It is worth noting that Info Edge is the second major company after Kotak Mahindra to raise money through QIP this year.
In May, the bank raised Rs 7,442 Cr from Canada Pension Plan Investment Board, ICICI Prude, and Invesco Oppenheimer Developing Markets Fund.
Info Edge has over 70 offices in 47 cities in India and overseas offices in Dubai, Riyadh, Abu Dhabi, and Bahrain catering to the Middle East market.
Over the course of time, it has invested in companies such as Zomato, PolicyBazaar and HappilyUnmarried, Mydala, and 99labels among several others. Early this year, the Info Edge had also launched its Rs 100 crore worth maiden venture capital fund to back tech startups in India.
Excited to see the journey Info Edge has bestowed!