Info Edge To Invest Up To INR 1K Cr In IE Venture Investment Fund III

SUMMARY

Info Edge said the investment is in line with the company’s strategy on external financial investments that are focused on value creation in medium to long-term prospects

Info Edge will invest up to INR 1,000 crore into the AIF either “directly or through wholly owned subsidiaries, subject to approval of SEBI and shareholders of the company,” the filing read

Smartweb Internet Services, a subsidiary of Info Edge, will act as the sponsor and investor manager of the said trust and all its schemes

Internet company Info Edge has obtained the board’s nod to invest up to INR 1,000 Cr in IE Venture Investment Fund III, a scheme to be launched by Karkardooma Trust, a SEBI-registered Category II Alternative Investment Fund (AIF).

In an exchange filing, Info Edge said the investment is in line with the company’s strategy on external financial investments that are focused on value creation in medium to long-term prospects.

Info Edge will invest up to INR 1,000 Cr into the AIF either “directly or through wholly–owned subsidiaries, subject to approval of SEBI and shareholders of the company,” the filing said.

Smartweb Internet Services, a subsidiary of Info Edge, will act as the sponsor and investor manager of the said trust and all its schemes.

The company said that the term of the scheme will be 12 years from first closing but it may be extended by another two years following shareholders approval.

Info Edge’s consolidated net profit zoomed over 141% to INR 288.41 Cr in Q3 FY25 from INR 119.44 Cr in the year-ago quarter, driven by consistent performance across all four verticals.

On a quarter-on-quarter basis, net profit skyrocketed 240% from INR 84.73 Cr.

Operating revenue surged 15% to INR 722.39 Cr during the quarter under review from INR 627.12 Cr in the year-ago period. Sequentially, it rose a little over 3% from 700.82 Cr.

Founded in 1995 by Sanjeev Bikhchandani, Info Edge is one of India’s oldest internet-based companies, which operates across sectors such as recruitment (Naukri), real estate (99acres), matrimony (Jeevansathi) and education (Shiksha).

It counts foodtech major Zomato, insurtech startup PB Fintech and edtech company Adda247 among its portfolio companies.

Ahead of Q3 earnings, the board of directors of Info Edge approved a stock split in the ratio of 1:5. This is the first-ever stock split by the online classified company.