Info Edge, the owner of the job search portal Naukri.com, has announced that it will be launching a qualified institutional placement (QIP) to raise up to Rs 1,875 crore.
As per the BSE filing (1), the firm informed that the Fund Raise Committee had approved the opening of the QIP and fixed the floor price fixed at Rs 3177.18 per share.
The Fund Raise Committee would further be deciding on the closing date of the QIP in its meeting on the 7th of August.
Info Edge is an internet company that runs several online platforms, including Naukri.com, 99acres.com, Jeevansathi.com, and Shiksha. The company also has companies like Zomato, and PolicyBazaar added to its portfolio, along with ed-tech firm NoPaperForms and B2B platform ShopKirana.
Info Edge shares closed trading at Rs 3200.05 apiece, up 1.43% on the BSE on Tuesday.
Strong portfolio through IE Venture Fund
The company also invested $6.33 million in video & live stream-led social platform BulBul and holds a 17.82% stake in the firm. As a part of the agreement, the company acquired 416 ordinary shares and over 2002 Series A preference shares via a mix of primary & secondary modes of acquisition.
Overall, Info Edge has over 21 active investments currently and even launched Rs 100 crore, IE Venture Fund, to invest in tech-enabled startups that create, market, and distribute innovative products and services that benefit consumers at large.
Some of the companies where Info Edge has invested through its IE Venture Fund include Dotpe Private Limited, Qyuki Digital Media Private Limited, Intellihealth Solutions Private Limited, and Fanbuff Esports India Private Limited.