Info Edge (India) advanced 2.71% to Rs 973.50 at 11:13 IST on BSE after the company said it has committed to make an additional investment of an amount of about Rs 185 crore in the shares of Zomato Media.
Meanwhile, the S&P BSE Sensex was up 8.32 points or 0.03% at 28,171.61
On BSE, so far 32,442 shares were traded in the counter as against average daily volume of 39,113 shares in the past one quarter.
The stock hit a record high of Rs 1,014.70 in intraday trade today, 19 November 2014. The stock hit a low of Rs 955.10 so far during the day. The stock had hit a 52-week low of Rs 405 on 18 November 2013.
The stock had outperformed the market over the past one month till 18 November 2014, rising 13.23% compared with the Sensex's 7.87% rise. The scrip had also outperformed the market in past one quarter, gaining 20.75% as against Sensex's 6.72% rise.
The large-cap company has equity capital of Rs 120.22 crore. Face value per share is Rs 10.
Info Edge (India) before market hours today, 19 November 2014 said that the company has committed to make an additional investment of an amount of about Rs 185 crore in the shares of Zomato Media (which owns and operates an online food guide portal www.zomato.com). Info Edge (India) would be investing along with two other investors in this round of funding, which aggregates to Rs 370 crore and includes purchase of shares from certain existing shareholders, Info Edge (India) said.
Info Edge (India) would be subscribing/purchasing equity shares and convertible preference shares of Zomato Media. Upon disbursement of this amount, the total amount invested by Info Edge (India) in Zomato Media will be about Rs 327 crore and the shareholding of Info Edge (India) in Zomato Media, post aforesaid aggregate fund raise of Rs 370 crore, will be maintained at 50.1% on a fully converted and diluted basis. Zomato Media is raising funds at a pre-money company valuation of about Rs 3700 crore (approximately $600 million, assuming 1$ at Rs.61.5), the company said.
Info Edge (India)'s net profit fell 0.1% to Rs 33.23 crore on 20% growth in net sales to Rs 147.57 crore in Q2 September 2014 over Q2 September 2013.
Info Edge (India) is India's premier on-line classifieds company in recruitment, matrimony, real estate, education and related services.
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