The company reportedly plans to raise up to Rs 1,875 crore via QIP.
Info Edge said that the fund raise committee of the company at its meeting held on 4 August 2020, decided to open the issue for receiving bids. The committee may, at its absolute discretion may offer a discount of not more than 5% to the said floor price. The committee will consider the issue price at its meeting on Friday, 7 August 2020.
The company proposes to utilize the net proceeds to augment long term cash resources, for meeting the fund requirements of business activities and general corporate purposes as a part of its growth strategy.
Info Edge (India) runs leading internet businesses like Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. Info Edge has made significant strategic investments into emerging internet companies - zomato.com, meritnation.com, policybazaar.com, Canvera.com, happilyunmarried.com.
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