With the new funds, the platform aims to expand product offerings and scale into Tier-2 and Tier-3 cities, targeting an annual debt run-rate of Rs 10,000 crore by FY27.
Executives from PB Fintech are slotted first in the schedule, and are expected to meet Department of Telecommunications officials to discuss the draft cybersecurity rules in the coming week.
The shares of the Sanjiv Bhikchandani-led company are currently over 57 percent higher than the 52-week-low record of Rs 4,871 apiece.
Naukri parent Info Edge reported a robust Q2FY25, with revenue in line and EBITDA margin surpassing expectations, while analysts forecast growth as IT hiring strengthens.
Revenue from operations reached Rs 700.82 crore, a 12 percent rise year-on-year (YoY) and up 3.5 percent sequentially from Rs 677 crore
Billing growth and management commentary point to improvements in IT hiring, implying bottoming out of the challenging environment.
The Info Edge founder says it is easier to list on Indian exchanges and the process is less complicated
Momentum in real estate hiring augurs well for this recruitment portal
The Info Edge founder said that apart from players chasing profitability in the listed space, private investors have also made it clear to portfolio companies that funding will only follow profitability
HDFC Securities is bullish on Infoedge has recommended buy rating on the stock with a target price of Rs 5275 in its research report dated August 11, 2023.
HDFC Securities is bullish on Infoedge has recommended buy rating on the stock with a target price of Rs 5170 in its research report dated May 26, 2023.
HDFC Securities is bullish on Infoedge has recommended buy rating on the stock with a target price of Rs 4600 in its research report dated February 10, 2023.
Bikhchandani's comments were in response to a passage from Grover's book, where Grover said how a founder should not shy away from liquidating their stock at every secondary sale opportunity.
Despite being one of the leaders in the online classified space and the strong growth trajectory, the risk-reward ratio is not favourable for an immediate entry into the stock
Hitesh Oberoi the CEO and Managing Director of InfoEdge said that hiring in the IT sector is beginning to stabilize and said that after seven quarters of unprecedented growth,he expects growth in IT hiring to moderate going forward.
The company also informed that the new funds will be used for product development and market operations. The company also said it plans to launch its app in the third week of August this year.
The fund will be used to build the platform and add more modules to automate the remaining landscaping workflows, Attentive Inc has said.
Investors' comments come at a time when venture capital and private equity funding to Indian startups is drying up amid a slowdown in global financial markets which has also hit valuations of many high-growth technology companies across the globe.
Yojak, which counts KAE Capital Management, and Shaadi.com’s founder Anupam Mittal among others as its backers, has also laid off around 75-80 contractual workers
The blog on governance was prompted by the recent events in BharatPe and the resignation of its founder Ashneer Grover. Bikhchandani also discloses two great pieces of advice he received when he raised his first round back in 2000, in his response.
Info Edge has a track record of successful early-stage investment in startups including Zomato and PolicyBazaar
This is the verbatim transcript of InfoEdge India management call with analysts
Net Sales are expected to increase by 8.7 percent Q-o-Q (up 14.7 percent Y-o-Y) to Rs 226.6 crore, according to Edelweiss. InfoEdge to report net profit at 59.8 crore up 82% quarter-on-quarter.
In an exclusive interaction with Moneycontrol, Hitesh Oberoi, CEO of InfoEdge and Naukri - India's largest job portal said that the hiring scenario in 2017 will largely depend on what happens in the Union Budget. He said that the industry now needs a budget which can create jobs, lower interest rates and reduce taxes.
Online classifieds company Info Edge's second quarter profit is likely to jump 37 percent quarter-on-quarter to Rs 46.5 crore on strong operational performance, according to analysts polled by CNBC-TV18.