"Info Edge (India) Ltd has informed BSE that Sanjeev Bikhchandani, founder promoter and Executive Vice Chairman, has transferred 12,900 shares (face value of Rs 10 each) from his personal shareholding to employees of the company," Info Edge said in a BSE filing.
The shares transfer is in line with Bikhchandani's earlier commitment to award a total of 2,43,500 equity shares equivalent to 76,250 equity shares pre-bonus issues of September 2010 and in June 2012.
The balance commitment as on date is 72,300 equity shares, at face value of Rs 10 each, in favour of employees who remain associated with the company and its subsidiaries, the filing said.
The company has investments in Zomato Media, Applect Learning Systems Private Limited, Etechaces Marketing and Consulting, Kinobeo Software, Canvera Digital Technologies and Happily Unmarried Marketing.
With a network of 56 offices located in 42 cities throughout India, Info Edge has over 3,100 employees.