Info Edge lists at Rs 480 on BSE

Info Edge India, owner of job portal Naukri.Com, today got listed at Rs 480 on the Bombay Stock Exchange (BSE).

Info Edge got listed with a premium of 50% over its issue price of Rs 320 and touched a high of Rs 582 within a few minutes of listing.

It had received a massive response to its public offer. The offer price was fixed at Rs 320 and the IPO was subscribed 54.76 times.

The issue, also saw an overwhelming response in the qualified institutional buyers (QIB) portion, especially from foreign institutional investors (FIIs). The QIB portion was subscribed 84 times.

The offer consisted of 53.23 lakh equity shares, of which 5.32 lakh shares are reserved for employees.

Info Edge would utilise the funds to purchase or lease real estate for its offices, to acquire companies and to develop alternate delivery models.