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

• Info Edge, one of the biggest promoters of Zomato, sold 3.32% stake in Zomato via initial public offering (IPO) and currently holds 15.23%.
• Info Edge had sold shares worth ₹ 375 crore in an offer for sale which has multiplied into ₹15,000 crore after listing.
• 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.

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.

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 Zomato IPO, 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 filing 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: Zomato makes a strong public market debut at 51% premium, shares open at ₹115

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