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

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

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.
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