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<ul><li>As startup layoffs continue, Mobile Premier League and FrontRow fire 245 peopleInfo Edge has lost ₹9,491 crore ($1.2 billion) in its investment in tech startups <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword> and <keyword id="696009" type="General" weightage="20" keywordseo="policybazaar" source="Orion">PolicyBazaar</keyword>.</li><li>The market cap of both the companies have fallen significantly as the Indian stock market undergoes sharp correction.</li><li><keyword id="80004" type="General" weightage="20" keywordseo="info-edge" source="Orion">Info Edge</keyword> owns 15.23% stake in restaurant aggregator business Zomato and 13.3% in financial services company PolicyBazaar.</li></ul>Sanjeev Bhikchandani-led Info Edge has lost ₹9,491 crore ($1.2 billion) in its investment in tech startups Zomato and PolicyBazaar since their stock market debut. The development comes as tech and startup stocks underwent a meltdown in the last few months. According to Business Insider’s calculations, the Naukri.com and Jeevansathi.com’s parent company has made ₹12,656 crore ($1.6 billion) on its investment in the two companies as of May 30. This investment however was once worth more than twice of what they’re now worth —- at ₹22,148 crore ($2.8 billion), as per their listin day valuations. Notably, Info Edge owns 15.23% stake in restaurant aggregator business Zomato and 13.3% stake in financial services company PB Fintech, which is the parent company of PolicyBazaar and PaisaBazaar. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Returns on the day of listing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Returns on May 30, 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹14,957 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,537.9 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PB Fintech (PolicyBazaar) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹7,191 crore. </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,119 crore </td></tr></tbody><tbody></tbody></table>Zomato’s shares listed at a<a href="https://www.businessinsider.in/business/news/zomato-makes-a-strong-public-market-debut-at-51-premium-shares-open-at-115/articleshow/84667265.cms#:~:text=Zomato%20made%20a%20strong%20debut,the%20NSE%2C%20up%2072%25."> premium of 51% </a>as its shares opened at ₹116 in July 2022. Its market cap was at ₹98,211 crore on the closing bell on the first day of listing, down from the ₹100,000 crore mark it breached earlier in the day. The company’s market cap has halved since then to ₹56,060 crore, as of May 30. At the peak of Zomato's stock price, Info Edge’s shareholding in the company was valued at ₹20,190 crore. PB Fintech — which offers insurance and loan facilities to customers — listed on the stock exchange at a premium of 17% on the Indian stock market on November 15, 2021. Its market cap was ₹54,070 crore on the closing bell on the day of market debut, versus ₹30,970 crore on May 30. Info Edge is also an investor in other initial public offering (IPO)-bound companies like ixigo and Shiprocket. The year <a href="https://www.businessinsider.in/stock-market/news/there-are-huge-discounts-on-nykaa-zomato-paytm-and-shares-of-other-listed-tech-startups/articleshow/89086759.cms">2022 has not been a great one</a> for these tech stocks, which <a href="https://www.businessinsider.in/stock-market/news/paytm-nykaa-and-zomato-are-now-a-part-of-nifty-next-50/articleshow/89820712.cms">made their debut on the stock market </a>only last year. Besides Zomato and PB Fintech, others like Paytm and Nykaa have also faced a significant drop in their share price and market capitalization ever since the startup of 2022. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Percentage change in stock price since Jan 1, 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-49.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PB Fintech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-28.05% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FSN E-Commerce (Nykaa) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-32.99% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">One97 Communications (Paytm) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-52.13% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EasyTripPlanner (EaseMyTrip) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+41.68% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MapMyIndia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-25.59% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RateGain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-21.75% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nazara Technology </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-50.26% </td></tr></tbody><tbody></tbody></table>Source: Bombay Stock Exchange One97 Communications, the parent company of Paytm, was <a href="https://www.businessinsider.in/stock-market/news/zomato-is-now-bigger-than-paytm-reasons-why-the-market-is-not-excited-about-vijay-shekhar-sharmas-vision-of-a-superapp/articleshow/87777762.cms">not doing great in 2021</a> but 2022 was somehow even worse when it 52.13% of its share price and marketcap this year. The company’s valuation has eroded over 75% ever since its listing in November 2021. Nykaa was off to a <a href="https://www.businessinsider.in/stock-market/news/nykaa-starts-trading-at-2001-a-premium-of-77-87/articleshow/87618803.cms">good start last year</a> as the company managed to double investors’ money on the day of listing. However, it has too been on a downwards trajectory this year as it witnessed over 27% dip in its share price in 2022. Info Edge’s share price also fell nearly 32% since the start of this year. SEE ALSO <a href="http://www.businessinsider.in/finance/banks/news/citi-kotak-icici-and-other-investment-banks-earned-2600-crore-through-ipos-last-year/articleshow/91887303.cms" data-type="tilCustomLink" style="">Indian companies raised $14 billion via IPOs and their i-bankers made $300 million in fees</a> <a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/nykaa-to-face-competitive-heat-but-its-omni-channel-experience-maybe-the-game-changer/articleshow/91883946.cms" style="">Nykaa to face competitive heat but its omni-channel experience maybe the game changer</a> <a href="http://www.businessinsider.in/business/startups/news/mobile-premier-league-and-frontrow-fire-245-people-as-startup-layoffs-continue/articleshow/91892557.cms" data-type="tilCustomLink" style="">As startup layoffs continue, Mobile Premier League and FrontRow fire 245 people</a>

Info Edge has lost over $1.2 billion on its investment in Zomato, PolicyBazaar

<ul><li>Shares of <keyword id="80004" type="General" weightage="20" keywordseo="info-edge" source="Orion">Info Edge</keyword> (India) Limited reached ₹6,692 at 11:56 a.m. on September 8.</li><li>The development coincides with ICICI Securities issuing a buy call on Info Edge (India) with a target price of ₹8,040.</li><li>The analyst expects increase in hiring, real estate rentals and wedding trends to fill Info Edge’s pockets in the near term.</li></ul>Sanjeev Bikhchandani-led Info Edge’s shares reached ₹6,692 at 11:56 a.m. This represents an increase of ₹509 in value compared to the previous close of ₹6,183 on September 7. Over the last one month, Info Edge’s share price has increased by 23%. Each share was valued at ₹5,368 on August 9 compared to ₹6,692 at 11:56 a.m. The development comes as ICICI Securities has issued a buy call on Info Edge (India) with a target price of ₹8,040 today. The analyst expects the share to reach the target price in a span of one year. The analyst had issued a similar buy call in June with a target price of ₹6,300. ICICI Securities have now revised the target as <keyword id="6740899" type="General" weightage="20" keywordseo="info-edge-shares" source="Orion">Info Edge shares</keyword> have crossed the said target. In its latest report on Info Edge, ICICI Securities has elaborated on the strong points that would lead the company’s stock price to increase. The broking house has also revised the estimated valuations of Info Edge and its subsidiaries. “We value Naukri at 75x [times] financial year 2023 estimates earnings per share. We value 99 Acres and Jeevansathi [Info Edge’s subsidiaries] each at 20x FY 2023 estimated sales. As elaborated in our report, our 1-year forward valuation of Zomato [a portfolio company of Info Edge] stands at $22 billion.” <div type="image" title="Here is how Naukri parent Info Edge’s stock went up 23% in the last one month" msid="86032580" hostid="261"></div> Meanwhile, Info Edge’s portfolio companies — Zomato and Info Edge — are also moving away from the ‘startup’ tag to a maturity stage. Zomato has already hit the public market and bought over <a href="https://www.businessinsider.in/stock-market/news/info-edges-remaining-stake-in-zomato-is-worth-15000-crore/articleshow/84668883.cms">₹15,000 crore</a> in return for Info Edge, PolicyBazaar has filed <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">preliminary papers</a> to go public soon. Further Info Edge invested in another <a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms">initial public offering (IPO)</a>-bound company ixigo in July. Key points working in favour of Info Edge <div type="image" title="Here is how Naukri parent Info Edge’s stock went up 23% in the last one month" msid="86032598" hostid="261"></div> Strong hiring could benefit Naukri.com Trends in other markets like the US, which publish job market data periodically, hint towards a significant demand-supply mismatch when it comes to hiring. In India, entrepreneurship, preference to work in startups and flexibility of workplace are going to be biggest drivers of this demand-supply mismatch in hiring, as per ICICI Securities. This is likely to benefit job search platforms like Naukri.com for the next 12-18 months. Vibrant job market will push more people to move out ICICI Securities in its latest report noted that several new trends have emerged in the proptech segment — low interest rate, strong pipeline, print to online shift in advertising, recent direct-to-customer (D2C) approach taken by builders to drive traction in online real estate classifieds. The brokerage firm predicted the spike in paid listing going ahead, which will enable Info Edge-owned 99acre.com’s EBITDA [earnings before interest, taxes, depreciation, and amortisation] profitability to exceed the street estimates. ICICI Securities, however, also noted that competitive intensity is one of the key reasons for the suboptimal profitability in this segment for Info Edge. Besides this, the decline of funding in the real estate segment is also pushing Info Edge’s competition to reduce cash burn. “Nevertheless, the full stack aspirations of competitors like Square Yards is a key risk to watch out for,” the report added. Matchmaking is back on the table Easing of lockdown restrictions and best-in-a-decade job security will encourage more people to look for their partners on matchmaking platforms. ICICI Securities is anticipating a sharp increase in paid listings in the near term to also drive EBITDA profitability, in FY23. This will be a surprise to the current street expectation, the ICICI Securities added. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomato-policybazaar-investor-info-edge-invested-in-nearly-2-startups-every-month-in-2021/articleshow/86028438.cms">Zomato, PolicyBazaar investor Info Edge invested in nearly 2 startups every month in 2021</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-bags-another-150-million-to-fund-its-acquisition-spree/articleshow/86027937.cms">Byju’s bags another $150 million to fund its acquisition spree</a> <a href="https://www.businessinsider.in/business/startups/news/zoho-corp-invests-5-million-in-medical-devices-startup-voxelgrids/articleshow/86000656.cms">Zoho Corp invests $5 million in medical devices startup Voxelgrids</a>

Here is why Naukri parent Info Edge’s stock went up 23% in the last one month

<ul><li><keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword> runs recruitment services Naukri.com, real estate platform 99acres, education service Shiksha.com and matrimony portal Jeevansaathi.com.</li><li>The company saw its net revenue come down by 19% year-on-year for the second quarter of the current financial year. </li><li>For Info Edge, its businesses across verticals continue to suffer because of the pandemic.</li></ul>One of India’s oldest internet companies continues to bear the impact of the COVID pandemic. Info Edge, which runs recruitment services Naukri.com, real estate platform 99acres, education service Shiksha.com and matrimony portal Jeevansaathi.com, saw its net revenue come down by 19% year-on-year for the second quarter of the current financial year. Meanwhile, its operating EBITDA (earnings before interest, taxes, depreciation, and amortization) stood at ₹51.6 crore, down by 48.1% over the corresponding quarter in FY 2019-20. Its dismal performance in the second quarter also saw its share price taking a hit marginally during morning trade on November 11 – <keyword id="6673581" type="UNKNOWN" weightage="20" keywordseo="Info-Edge-share-price">Info Edge share price</keyword> fell by 0.22%. <div type="image" title="info edge latest" msid="79163901" hostid="261"></div> This, despite, <a href="https://twitter.com/CNBCTV18Live/status/1326371238260977665?s=19">comments</a> from Hitesh Oberoi, CEO, Info Edge trying to highlight the upswing in some segments. Q2 was better than expected, he said. But he also admitted that the billings on Naukri.com was still just 80% of what it was a year ago. In fact, between September and October, the <a href="https://twitter.com/CNBCTV18Live/status/1326371238260977665?s=19">billings fell</a> for the recruitment portal. Naukri.com, which is one of India’s top jobs listings portal and also Info Edge’s cash cow, has seen a blow to its business as companies froze hirings during the pandemic as a cost saving measure. During the release of its JobSpeak index in September, the company had said that hiring activity was recovering slowly. “While the hiring is yet to touch last year levels and is down by 23% in Sept’20 versus Sept’19 but this is also a marked recovery from a 35%-60% decline that we have witnessed in the last few months,” Pawan Goyal, Chief Business Officer, Naukri.com had said then. However, in October 2020 the company reported that hirings remained flat as compared to September 2020. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Info Edge revenue from different verticals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quarter ended Sept 30, 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quarter ended Sept 30, 2019 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Naukri.com </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1874.13 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2311.99 mn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">99acres </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹363.42 mn </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹570.12 mn </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹371.57 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹413.20 mn </td></tr></tbody></table> 99acres – Enquiries rising Meanwhile, for its real estate platform 99acres, Info Edge believes that recovery is on the cards in the third quarter of the current financial year. In a recent announcement, the company had said that 99acres.com has witnessed a 70% uptick in daily traffic in the third quarter as compared to the second. The company also said that in September, 99acres app downloads saw over 2000 installs per day. “The Jul-Sep 2020 quarter set the pace for the recovery of Indian residential real estate market. Post an initial lull in sales and new launches in the previous quarter, the current quarter came as a breather as sales resurged by almost 2.5 times of the pre-COVID levels,” Maneesh Upadhyaya, Chief Business Officer, 99acres.com had said in an earlier statement. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/zomato-and-swiggy-have-never-been-this-close-to-making-profit-say-goldman-sachs-analysts/articleshow/79163334.cms">Zomato and Swiggy have never been this close to making profit, say Goldman Sachs analysts</a>

Info Edge earnings are proof that not all Internet businesses are immune to the COVID crash

Info Edge, Bajaj Finance, Axis Bank and other stocks to watch out for on April 28

<ul><li>Info Edge is one of the earliest backers of Zomato, now valued $5.5 billion.</li><li>In a regulatory filing, Info Edge announced on Tuesday evening that it would sell ₹750 crore ($100 million) worth shares in Zomato’s IPO.</li><li>Further details would be shared with Zomato’s Draft Red Herring Prospectus, which the company is expected to file very soon.</li></ul>Info Edge announced on Tuesday evening that it would sell ₹750 crore ($100 million) worth shares in the upcoming initial public offering (IPO) of Zomato. The food delivery app is <a href="https://economictimes.indiatimes.com/tech/startups/info-edge-to-sell-rs-750-crore-zomato-shares-in-upcoming-ipo/articleshow/82278986.cms">likely</a> to be valued between $6-8 billion in its IPO. And the markets cheered the move – Info Edge share price was up by 2.5% in morning trade as of 9.20 am. However, later as of 9.57 am, it settled at ₹4994.5, a jump of 0.91%. <div type="image" title="INFO EDGE NEW" msid="82285680" hostid="261"></div> In a regulatory filing, Info Edge said, “The Board of Directors of the Company today considered and have given their approval to the Company to participate in the said Offer for Sale of up to such number of shares of Zomato Limited as would aggregate upto ₹7,500 million.” Further details would be shared with Zomato’s Draft Red Herring Prospectus, which the company is expected to file <a href="https://economictimes.indiatimes.com/tech/startups/info-edge-to-sell-rs-750-crore-zomato-shares-in-upcoming-ipo/articleshow/82278986.cms">very soon.</a> Info Edge, which holds as much as 20% stake in Zomato, has been one of the earliest backers of the company. “When we started investing there was no Softbank, we were in the mindset to start investing in businesses that we understand. One of the first companies we invested in was Zomato – the first cheque we wrote was for a million dollars. They used to do business listings – previews, menus, and we thought acha lag raha hain (looks good). It was not even called Zomato then it was called foodiebay,” Info Edge CEO Hitesh Oberoi had told Business Insider in an interview in 2019. Info Edge’s core business includes four internet firms that are spread across lucrative industries – recruitment portal Naukri.com, real estate aggregator 99acres.com, matrimony platform Jeevansaathi.com and edtech vertical Shiksha.com. SEE ALSO: <a href="https://www.businessinsider.in/india/news/covid-19-vaccine-phase-3-registration-on-cowin-and-aarogya-setu-not-working-for-18-on-28-april-morning/articleshow/82284828.cms">COVID-19 vaccine phase 3: Anxious Indians are complaining of CoWIN and Aarogya Setu registration being delayed</a>

Info Edge shares jump by 2.5% as markets cheer its move to sell ₹750 crore worth shares in the upcoming Zomato IPO

<ul><li>The India’s oldest internet company plans to raise ₹1875 crore by selling shares to qualified institutional investors. </li><li>The stock has grown by 70% since the lockdown began in March.</li><li>Eventually, the 11% growth in annual consolidated revenue was much better than estimates. </li></ul>Info Edge stocks jumped over 5% in early trade on Tuesday (June 23) after a sharp fall in quarterly and a plan to raise more money through new shares issued to qualified institutional investors. The $5 billion company, which runs <keyword id="218117" type="COMPANY" weightage="20" keywordseo="Naukri-com">Naukri.com</keyword>, Jeevansaath.com, 99acres.com and Shiksha.com, continues to be one of India’s largest internet companies. Investors had feared the company to perform a lot worse. So much so that a 60% fall in profit was better than expectation. <div type="image" title="info edge share latest." msid="76525158" hostid="261"></div> Better than what analysts expected <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">InfoEdge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financial revenue estimate </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1272.7 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Actual revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1416.3 crore </td></tr></tbody></table> One of the better bets Internet businesses are being seen <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-infoedge-biocon-and-peers-safe-stocks-for-2020/articleshow/76523192.cms">as some of the safer bets</a> amidst the global recession triggered by the COVID-19 pandemic. And InfoEdge is one of the big ones in that space. “We believe the crisis will expedite the offline to online transition of several small/large businesses that could help Info Edge deliver exceptional performance over the medium to long term due to its strong fundamentals and superior market positioning,” said the JM Financial report. Naukri’s India business, which makes for one-third of InfoEdge’s annual consolidated revenue, saw a year-on-year decline of collection by ₹14 crore in the fourth quarter of FY20 and it worsened in April with a decline of ₹26 crore as compared to the same month the previous year. But that was due to the lockdown. Just before that, Naukri was growing at 13% (year-on-year) until mid March, according to the company. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan-March 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue growth (YoY) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit growth (YoY) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Naukri.com </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">99acres.com </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss shrinks to a third </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-17.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loss has doubled </td></tr></tbody></table> And the promoters are cashing in. The company is set to raise ₹1875 crore through Qualified institutional placement i.e. selling new equity shares to big institutions. The internet company’s bid to raise funds through the unique method if successful will make it the <a href="https://www.livemint.com/news/india/info-edge-board-approves-raising-up-to-rs1-875-crore-through-qip-11592883581371.html">third company </a>(after Kotak Mahindra Bank and JM Financial) to raise capital through QIP since March this year. SEE ALSO: <a href="https://www.businessinsider.in/business/news/donald-trumps-h-1b-visa-ban-incites-a-sharp-reaction-from-indian-tech-company-like-wipro-tcs-infosys-tech-mahindra/articleshow/76524525.cms">Donald Trump's H-1B visa ban incites a sharp reaction from India's tech lobby</a> <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-infoedge-biocon-and-peers-safe-stocks-for-2020/articleshow/76523192.cms">HCL Tech, InfoEdge, Biocon and their peers may be safe stocks to hide for the rest of 2020</a>

Here’s why Info Edge stocks rallied over 5% despite 60% fall in quarterly profit

<ul><li>Info Edge, one of the biggest promoters of <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword>, sold 3.32% stake in Zomato via initial public offering (IPO) and currently holds 15.23%.</li><li>Info Edge had sold shares worth ₹ 375 crore in an offer for sale which has multiplied into ₹15,000 crore after listing. </li><li>This is because Zomato made a strong listing on exchanges today with a 51% premium and the market capitalisation soared to nearly ₹98,000 crore soon after.</li></ul>The market value of Info Edge’s stake in the newly-listed internet company Zomato has surged to a little less than ₹15,000 crore, which is about a quarter of its own market capitalisation. However, the stock showed little excitement post the successful listing of Zomato, one of its earliest investments. <div type="image" title="Info edge share" height="900" width="1200" msid="84669819" hostid="261"></div> Info Edge sold a 3.3% stake in the food delivery startup for ₹375 crore through the IPO. That would peg the total stake before IPO at about ₹11,000 crore. But now, after the <keyword id="9029084" type="UNKNOWN" weightage="20" keywordseo="zomato-IPO">Zomato IPO</keyword>, the remaining stake is worth a lot more than the entire stake before the sale. Initially the Sanjeev Bikhchandani-led Indian internet company was to sell shares worth ₹750 crore. Later, Info Edge, in a stock exchange <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/afaa5005-257c-49e8-8bfc-8ad84e66f47b.pdf">filing</a> released on July 4, said the board members have considered a reduction in the size of the offer for sale to ₹375 crore by the company. SEE ALSO: <a href="https://www.businessinsider.in/business/news/zomato-makes-a-strong-public-market-debut-at-51-premium-shares-open-at-115/articleshow/84667265.cms">Zomato makes a strong public market debut at 51% premium, shares open at ₹115 </a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-airtel-shares-fall-as-sc-rejects-agr-dues-re-computation-appeal/articleshow/84668288.cms">Vodafone Idea sinks nearly 10% and Airtel tumbles a bit after India’s Supreme Court denies a discount on past dues </a>

Info Edge’s remaining stake in Zomato is worth ₹15,000 crore

<ul><li>At 7:40 am, the SGX Nifty was trading 0.23% lower, indicating a muted start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on a negative note amidst cautious cues from global peers. At 7:40 am, the SGX Nifty was trading 0.23% lower, indicating a muted start for Nifty50. On Thursday, the US stocks finished sharply lower as tech shares lost momentum. The Dow Jones Industrial Average ended 1.45% lower. While the S&amp;P 500 lost 1.76% towards the end of trading. Here’s a list of stocks to watch for in trade on September 11: Reliance Industries and Future Retail Mukesh Ambani led RIL has clarified on the circulating news report about the company selling Amazon $20 billion stakes in its retail arm. RIL said, “we do not comment on media speculation and rumours, and we cannot confirm or deny any transaction which may or may not be in the works.” This may also move the shares of Mukesh Ambani’s recently acquired Future Retail. The shares of RIL closed 7.29% higher yesterday, whereas Future Retail was locked in a 5% upper circuit. Bank of Baroda and Union Bank The Bank of Baroda reduced Marginal cost of funds-based lending rate (MCLR) between 5-30 basis points across various tenors with effect from September 12. The Union Bank of India also decided to reduce the MCLR by up to 5 basis points across tenors. One hundred basis points make 1%. The shares of Bank of Baroda closed 3% higher yesterday, whereas Union Bank gained 2%. Info Edge Info Edge said its investee company Zomato had raised $160 million (₹1,173 crore) in funding from Tiger Global and Temasek Holdings subsidiary MacRitchie Investments, valuing the online food ordering platform at $3.3 billion. The shares of Info Edge closed 3.30% higher on September 10. HAL The state-owned Hindustan Aeronautics Limited (HAL) reported a 74% drop in its net profit to ₹148.7 for the first quarter ended June 30. The company’s overall revenue was down 47% compared to the same period last year. The shares of HAL closed 3.24% higher on Thursday. Maruti Suzuki The promoter of India’s largest car manufacturer Maruti Suzuki— Suzuki Motor Corporation acquired 2.84 lakh shares from September 8-9. The shares of Maruti Suzuki closed almost flat on Thursday. Hindustan Copper Hindustan Copper reported a 40% jump in its consolidated net profit to ₹29.8 crore for the first quarter ended June 30. The company’s revenue increased 41.9% to ₹431.4 crore. The shares of Hindustan Copper closed 3% higher on September 10. Yes Bank Yes Bank said it has fully repaid the ₹50,000 crore provided by RBI as a special liquidity facility (SLF) amid the crisis faced by the lender earlier this year. The shares of Yes Bank closed 2.20% higher on September 10. BHEL, IRCTC, Rail Vikas Nigam and Adani Green Energy These companies are slated to report their first quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/indias-largest-company-reliance-industries-has-reportedly-offered-amazon-a-40-stake-in-its-retail-arm-for-20-billion/articleshow/78041109.cms" data-type="tilCustomLink">India's largest company, Reliance Industries, has reportedly offered Amazon a 40% stake in its retail arm for $20 billion</a> <a href="https://www.businessinsider.in/finance/news/citigroup-ceo-michael-corbat-announces-plans-to-retire-hell-be-replaced-by-the-banks-consumer-chief-jane-fraser-/articleshow/78040520.cms" data-type="tilCustomLink">Wall Street shatters a glass ceiling as Jane Fraser is announced as Citigroup's new CEO, becoming the first woman to lead a major US bank</a>

Top stocks to watch— RIL, Future Retail, Bank of Baroda, Yes Bank, HAL, Info Edge, Maruti Suzuki, IRCTC, BHEL, HAL, Rail Vikas Nigam and more

<ul><li>At 7:50 am the SGX Nifty was trading 0.47% higher pointing towards a cautious start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on a muted note amidst mixed cues from global peers. At 7:50 am the SGX Nifty was trading 0.47% higher pointing towards a cautious start for Nifty50. The Hang Seng Index of the Hong Kong stock market was also trading 0.41% higher on September 8. Here’s a list of stocks to watch for in trade on September 8: HDFC Bank, ICICI Bank, SBI and other banking stocks HDFC Bank, ICICI Bank, SBI and other banking stocks will be in focus today after the RBI-appointed KV Kamath committee has submitted a resolution framework for stressed loan accounts. It has outlined parameters for 26 sectors. These <a href="https://economictimes.indiatimes.com/news/economy/policy/rbi-constituted-kv-kamath-committee-names-26-sectors-for-restructuring/articleshow/77981829.cms">26 sectors will require</a> loan restrictions based on the analysis of their financial parameters after COVID impacted businesses. Future Consumer Kishore Biyani led Future Group firm Future Consumer said it has defaulted on payment of principal redemption and interest on non-convertible debentures. The current default amount includes principal of ₹20 crore and interest of ₹2.03 crore, payable annually. The shares of Future Consumer ended 5% lower yesterday. Future Enterprises Kishore Biyani led Future Enterprises reported a consolidated net loss of ₹394.77 crore for the fourth quarter ended March 31. The company’s revenue from operations was down 50.01% to ₹783.28 crore during the quarter under review. This may also move other Future Group subsidiaries such as Future Retail, Future Lifestyle Fashions, Future Consumer, among others. The shares of Future Enterprises ended 5% lower yesterday. Indian Overseas Bank Indian Overseas Bank (IOB) has cut its marginal cost of funds based lending rate (MCLR) by 10 basis points (bps) across all tenors effective September 10. MCLR is actually the minimum interest rate below which financial institutions can’t lend. The shares of IOB ended 2% lower on September 7. Bharat Dynamics The central government is looking to sell 15% of its stake in Bharat Dynamics. The government currently owns 87.75% of the company’s stake, and it is looking to offload 2.71 crore shares at a floor price of ₹384.50. The shares of Bharat Dynamics ended 2% lower on September 7. Info Edge Info Edge reported a 24.7% jump in its India standalone net profit to ₹83.2 crore for the first quarter ended June 30. Although the company’s revenue fell 10.5% to ₹280.1 crore in the period under review. The shares of Info Edge ended 2% lower on September 7. Parag Milk and Foods Parag Milk reported a steep fall in its net profit for the first quarter ended June 30. The company’s revenue declined to ₹435.6 crore from ₹629.74 crore in the same quarter last year. The board also approved raising ₹ 230 crore via sale of non-convertible debentures. Non-convertible debentures can’t be converted into shares or equities. The shares of Parag Milk and Foods ended 2% higher yesterday. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/new-skirmish-at-india-china-border-along-pangong-tso-lake/articleshow/77989048.cms" data-type="tilCustomLink">New skirmish at India-China border along Pangong Tso Lake</a> <a href="https://www.businessinsider.in/business/corporates/news/deepak-kochhar-husband-of-former-icici-bank-chief-chanda-kochhar-arrested-in-videocon-loan-case/articleshow/77982638.cms" data-type="tilCustomLink">Deepak Kochhar, husband of former ICICI bank chief Chanda Kochhar, is arrested in connection with Videocon loan case</a>

Top stocks to watch— SBI, HDFC Bank, ICICI Bank, Future Retail, Future Enterprises, Indian Overseas Bank, Bharat Dynamics, Parag Milk, Info Edge and more

<ul><li>Its shares were down by 1.5% on Thursday.</li><li>In a regulatory filing, <keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword> shared that Naukri’s business was growing at a steady 13% until the lockdown happened. But ever since then, things have gone downhill. </li><li><keyword id="1336736" type="PERSON" weightage="20" keywordseo="99acres">99acres</keyword> saw a year-on-year decline in collection of ₹18 Cr in Q4FY20 and ₹9 crore in April. The lockdown created a shortfall of ₹25-30 crore said the company. </li></ul>Info Edge’s stocks took a hit after the company revealed how the coronavirus pandemic has hit its subsidiaries – <keyword id="218117" type="COMPANY" weightage="20" keywordseo="Naukri-com">Naukri.com</keyword>, 99acres. Its shares were down by 1.5% and were trading at ₹2,532 on Thursday. <div type="image" title="info edge shares." msid="76195610" hostid="261"></div> With the coronavirus pandemic tightening pockets across industries, there’s a looming jobs crisis where thousands of people have already been laid off and millions of jobs continue to be at risk. With this Naukri.com, which is one of India’s top jobs listings portal, has seen a blow to its business. In a regulatory filing, Info Edge shared that Naukri’s business was growing at a steady 13% until the lockdown happened. But ever since then, things have gone downhill. Naukri’s India business saw a year-on-year decline of collection by ₹14 crore in the fourth quarter of FY20 and it worsened in April with a decline of ₹26 crore as compared to the same month the previous year. “For Q4’20, pre-covid19 the growth was 13%, the lockdown slowed down the growth to zero, leading to a shortfall of collection of ₹40-44 crore (had the business grown at pre-covid growth rate),” said the company’s filing. But Info Edge’s hit didn’t just come from its jobs section but also the real estate platform – 99acres. The real estate portal saw a year-on-year decline of collection by ₹18 Cr in Q4FY20 and ₹9 crore in April. The lockdown created a shortfall of ₹25-30 crore said the company. While Naukri.com has always been the blockbuster property for Info Edge, the company had also been betting on real estate growth. “Most of the properties listed today are residential real estate. Today, we don’t do too much of rental, we don’t do anything in commercial – but these are very large opportunities. Inside the categories we are in, the opportunities are huge. Real estate is 10% of the GDP of any country, that’s how big real estate is,” Info Edge CEO Hitesh Oberoi had told Business Insider in February. Info Edge’s revenue stood at ₹320.5 crore for Q3FY20, up by 14% from the same quarter in the previous year. However, its matrimony listings portal Jeevan Sathi’s collections saw marginal growth – by ₹4 crore in Q4FY20 and ₹1 crore in April. Revenue from its education business Shiksha.com grew slightly to ₹13.2 crore in the fourth quarter, up from ₹12.8 crore in the same quarter the previous year. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/zomato-swiggy-dunzo-can-start-testing-drone-deliveries-as-india-starts-doling-out-permits/articleshow/76188887.cms">Zomato, Swiggy, Dunzo can start testing drone deliveries as India starts doling out permits</a> <a href="https://www.businessinsider.in/business/startups/news/zoomcar-ceo-says-people-wont-book-uber-or-ola-and-wont-buy-cars-soon/articleshow/76188254.cms">Zoomcar CEO is betting on people not taking Uber and Ola⁠— and not buying cars in a hurry</a> <a href="https://www.businessinsider.in/business/startups/news/tiger-global-now-has-to-pay-tax-on-profit-from-sale-of-flipkart-stake-to-walmart-in-2018/articleshow/76170662.cms">Tiger Global now has to pay tax on profit from sale of Flipkart stake to Walmart in 2018</a>

Info Edge share price falls after company reveals dismal performance of Naukri.com and 99acres due to Covid19

The much anticipated initial public offering (IPO) of online food delivery company <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> opened on Wednesday at Rs 72-76 per share offer and was fully received by the retail investors. The retail segment of the offering has been fully subscribed in just over an hour. So far, the IPO has been subscribed around 20 percent on the first day of bidding. On Tuesday, the company said that it has raised Rs 4,196 crore from several prominent institutional investors as part of an anchor book allocation. It has allocated 55.2 crore equity shares, to anchor investors, at a price of Rs 76 per share. Government of Singapore, <keyword id="158169" type="CITY" weightage="20" keywordseo="BlackRock">BlackRock</keyword>, <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword>, <keyword id="126284" type="ORGANIZATION" weightage="20" keywordseo="Abu-Dhabi-Investment-Authority">Abu Dhabi Investment Authority</keyword> among others were the participants in the anchor book. Jyoti Roy, DVP- <keyword id="195368" type="POSITION" weightage="20" keywordseo="equity-strategist">Equity Strategist</keyword> at <keyword id="367193" type="COMPANY" weightage="20" keywordseo="Angel-Broking-Ltd">Angel Broking Ltd</keyword> noted that along with global investors the anchor portion witnessed strong participation from domestic <keyword id="6357979" type="UNKNOWN" weightage="20" keywordseo="mutual-funds">mutual funds</keyword> who were allotted 18.4 crore shares aggregating to Rs 1,399 crore out of the Rs. 4,196 crore anchor book. "Strong participation by institutions in the anchor book bodes well for the IPO and we expect continued strong demand for the IPO from both institutional and retail investors alike. Given strong delivery network, high barriers to entry, expected turnaround and significant growth opportunities in tier-II and tier-III cities, we believe that Zomato will command a premium to global peers and hence have a 'SUBSCRIBE' recommendation on the IPO," Roy said. The issue comprises an offer for sale of Rs 375 crore by the <keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword> and a fresh issue worth Rs 9,000 crore. SEE ALSO - <a href="https://www.businessinsider.in/business/startups/news/a-startup-which-helps-you-become-a-makeup-artist-vah-vah-raises-seed-funding-from-sequoias-surge/articleshow/84378187.cms" style="">A startup which helps you become a makeup artist raises seed funding from Sequoia's Surge</a> <a href="https://www.businessinsider.in/business/ecommerce/news/chinese-e-commerce-app-shein-will-re-enter-the-indian-market-with-amazon-but-as-a-seller-this-time/articleshow/84376578.cms">Chinese e-commerce app Shein will re-enter the Indian market with Amazon, but as a seller this time</a>

Zomato IPO gets subscribed 20% on first day of bidding

<ul><li>InfoEdge’s net revenue grew to ₹316.6 crore from ₹265 crore in the same quarter previous year. </li><li>The revenue push came in from its <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> aggregator platform <keyword id="1336736" type="PERSON" weightage="20" keywordseo="99acres">99acres</keyword>.com.</li></ul>One of India’s first internet companies InfoEdge reported a 19.5% jump in net revenues in the second quarter to ₹316.6 crore from ₹265 crore in the same quarter previous year, thanks to its real estate aggregator platform 99acres.com. “We continue to witness strong quarterly operational performance in terms of billing, revenue, total income and operating EBITDA growth, which are in high teens on year-on-year basis, supported by 99acres which grew over 20% in terms of billing and revenue during the quarter on a year-on-year basis,” said Chintan Thakkar, chief financial officer of InfoEdge. Thakkar spoke to Business Insider to share how the revenues on 99acres, in spite of an economic slowdown. “99acres has been consistently growing in the last six quarters. The last quarter we grew by 19%,” he said. The real estate aggregator business is divided into two parts – the first being the developers and businesses about new projects and the second one being resale retail. The second aspect has been the one to turn the story around for 99acres. “The growth could be because of the velocity of transactions – if there are more and more transactions in the market the business goes up. There are more green shoots around resale rental business and that is helping brokers with a good return on investment, which in turn helps our business,” said Thakkar. The company’s net profits also fell by 88% due to an exceptional item – impairment in a company called Meritnations due to gap in valuation. However, Thakkar informs us that there actually has been a 31.4% jump in profit margin. Along with 99acres.com, <keyword id="80004" type="COMPANY" weightage="20" keywordseo="Info-Edge">Info Edge</keyword> is the parent company for popular sites like <keyword id="218117" type="COMPANY" weightage="20" keywordseo="Naukri-com">Naukri.com</keyword>, JeevanSathi.com, and Shiksha.com. On the Naukri portal, they have over 60 million resumes, half a million recruiters and over 13-14 lakh applicants for jobs. The company also invests in startups and was also an early investor in the foodtech unicorn Zomato. Info Edge also recently invested ₹21 crore in edutech platform Adda247 and ₹5 crores in real estate startup Terralytics Analysis. See Also: <a href="https://www.businessinsider.in/naukri-jobs-is-using-artificial-intelligence-to-take-on-linkedin/articleshow/69751271.cms">An Indian internet company older than Google is using Artificial Intelligence to reinvent itself</a>

You Searched For "Info Edge shares" and got 12 results

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Info Edge’s revenues jump 19.5% on the back of increased transactions on 99acres

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