Info Edge (India) Ltd IPO opens October 30,2006

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Presently its business activities are limited to primarily providing information exchange services in the recruitment, matrimonial and real estate markets; and the activities are concentrated in India. Now the Company proposes to diversify into other segments of the online classifieds market such as automobile products, educational products and industrial products and expand its present business to the countries in the Middle East and in South Asia. It also intends to start several initiatives to enhance the features and qualities of its currently existing products and services.

 

The company feels that its efforts at diversifying into new businesses or into new markets can be facilitated as demonstrated in the past by making acquisitions of existing internet-based businesses and companies, whose resources, capabilities and strategies are complementary to and likely to enhance its business operations such as process outsourcing, telesales operations, etc in different geographical regions the company operates. It also intends to further develop the business of the 99acres.com, which is engaged in the real estate classifieds market; and Quadrangle, which is engaged in "offline" recruitment services market.

 

Online recruitment industry first appeared in India in the mid to late 1990s, due to the popularity and the growth of the internet.  Info Edge is one of the pioneers of the online recruitment industry in India. The Company launched Naukri.com website in 1997.  Since then several players like Monster, Jobstreet, and Timesjobs among others have entered the industry and have helped in the expansion of the industry.

 

India has a large percentage of its population between the ages of 20 and 40, many of whom have secondary or college level education and can be categorized as skilled labor. According to Census data in 2001, 54% of Indian population were comprised of people who were younger than 25 years of age.  Combined with the increasing desire on the part of companies in the developed economies to seek labor at competitive wages, such characteristics of the Indian labor market have led to a significant number of companies from the developed countries, such as the U.S.A., looking to hire Indian labor either through migration of Indian workers to such countries or moving of such companies' operations to India in the form of such companies setting up operations in India or implementing business process outsourcing to Indian companies. Info Edge believes that it has an effective sales team functioning from its 45 offices located in 30 cities in India as well as its office in Dubai.

 

 

Sourced From: Concept Public Relations India Pvt. Ltd