This is India’s first Internet IPO, and in a way a test case for more forthcoming IPOs like Indiatimes’ and Shaadi.com’s. The IPO of Info Edge India Ltd, the owners of Naukri.com, is opening today. The issue, which has been priced in the band of Rs 290 and Rs 320 a share, will be open till November 2 for subscription. Info Edge plans to sell 5.32 million shares, or nearly a fifth of its post-issue equity base. It would raise about Rs 170 crore at the top end of the band. The issue values Info Edge at $188 million.
The company runs sites like Naukri.com, 99acres.com and Jeevansathi.com. In May 2006, Kleiner Perkins Caufield & Byers and Sherpalo Ventures had picked up close to 5 per cent stake in Info Edge for $6 million. ICICI Venture also owns a stake in Info Edge. It had invested Rs 7.29 crore in 2000.
Info Edge had a revenue of Rs 840.59 million and a net profit of Rs 132.9 million in the year ending March 2006.
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