"Info Edge (India), through its wholly owned subsidiary, has invested an amount of Rs 1.55 billion (Rs 155 crore) in Zomato, being Info Edge's proportionate share of Zomato's recent fund raise of USD 50 million," Info Edge said in a statement.
Internet firm Info Edge India has invested Rs 155 crore in online restaurant guide Zomato, which would use the amount to further expand its business.
"Info Edge (India), through its wholly owned subsidiary, has invested an amount of Rs 1.55 billion (Rs 155 crore) in Zomato, being Info Edge's proportionate share of Zomato's recent fund raise of USD 50 million," Info Edge said in a statement. Upon completion of the allotment of shares, Info Edge's aggregate investment in Zomato will be about Rs 484 crore.
"Info Edge, along with its wholly-owned subsidiary will continue to hold, on a fully converted and diluted basis, 50.1 per cent of Zomato," it said. Zomato has recently forayed into the US market by acquiring restaurant information and recommendation service provider Urbanspoon for an estimated USD 60 million in an all-cash deal. The company has been aggressively expanding its global presence through inorganic route.
This was Zomato's sixth acquisition in the last six months, and the biggest one. It had recently acquired local restaurant search players in New Zealand, Poland, Czech Republic, Slovakia and Italy.
Info Edge stock price
On April 10, 2015, Info Edge India closed at Rs 802.10, down Rs 6.55, or 0.81 percent. The 52-week high of the share was Rs 1014.70 and the 52-week low was Rs 590.00.
The company's trailing 12-month (TTM) EPS was at Rs 12.08 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 66.4. The latest book value of the company is Rs 64.32 per share. At current value, the price-to-book value of the company is 12.47.
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