Naukri IPO Coverage: Info Edge Sets Apart Rs 30 Crore For Acquisitions

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Of the Rs 130 crore Info Edge intends to raise from the capital market, it will use about Rs 30 crore ($6.6 million) for acquisitions, its draft IPO prospectus says. “We feel that our efforts at diversifying into new businesses or new markets can be facilitated as demonstrated in the past by making acquisitions of existing internet-based businesses and companies. We intend to use approximately Rs 300 million for such acquisitions or strategic alliances.”
Besides, it plans to spend Rs 25 crore for the development of 99acres.com (property portal) and Quadrangle (offline exeuctive search business). It will also invest Rs 25 crore for cell phone-based delivery models and R&D. Rs 20 crore will be put to use to move into new markets like Middle East and South Asia and another Rs 30 crore for buying or leasing a new office space.

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Anil Raj

Naukri is already loosing their space as Job portal and they lost completely on their real estate space and now matrimonial one too.

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