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Info Edge shares rise 3% on plans to offload stake worth Rs 750 crore in Zomato

Info Edge currently holds around 19 percent stake in the food delivery aggregator company.

April 28, 2021 / 10:09 AM IST

Info Edge India share price added over 3 percent in early on April 28 after the company said it is going to sell its stakes worth Rs 750 crore in Zomato Limited via Offer For Sale (OFS) in the latter's upcoming initial public offering (IPO).

"This is to inform you that Zomato Limited is proposing an IPO of its Equity Shares, comprising a fresh issue of Equity Shares by Zomato Limited ('Fresh Issue') and an Offer For Sale by Info Edge (India) Limited ('Offer For Sale')," it said in a regulatory filing.

Info Edge currently holds around 19 percent stake in the food delivery aggregator company.

Also Read: Zomato IPO: Food delivery platform files DRHP with Sebi

At 09:23 hrs, Info Edge India was quoting at Rs 5,060, up Rs 115.50, or 2.34 percent on the BSE.

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The share touched a 52-week high of Rs 5,876.05 and a 52-week low of Rs 2,270 on 06 January, 2021 and 18 May, 2020, respectively.

Currently, it is trading 13.89 percent below its 52-week high and 122.91 percent above its 52-week low.
Moneycontrol News
first published: Apr 28, 2021 09:38 am

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