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Info Edge launches IPO, over 53 lakh equity shares on offer

31-October-2006
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Info Edge launches IPO, over 53 lakh equity shares on offer

Info Edge (India) Ltd, a provider of online recruitment and matrimonial classifieds and related services in India, entered the capital market on October 30, 2006 with an IPO of 5,323,851 equity shares of Rs 10 each through 100 per cent book building process. The price band has been fixed at Rs 290 to Rs 320 per equity share. The issue closes on November 2.

Sanjeev Bikhchandani, Founder and CEO of the group, said, “The raised fund will be used for diversification, product enhancement and expanding to new geographies.”

He highlighted the fact that the way forward for the company was to look at innovation in products and technology, brand building exercise, continue with the strong sales network that they had built, focus on providing user experience and do all this primarily by hiring and retaining good talent.

The company generated total income of Rs 840.59 million for the fiscal year ended March 31, 2006 as against Rs 451.18 million for FY05.

The business of Info Edge is managed through four divisions – online recruitment classified division (operating through www.naukri.com, launched in March 1997), online matrimonial classified division (operating through www.jeevansathi.com, acquired in September 2004), online real estate classified division (operating through www.99acres.com, launched in September 2005), and offline executive search division (operating through its Quadrangle division, acquired in November 2000).

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