Info Edge advances 4%, hits record high on report Policybazaar mulls IPO

Shares of Info Edge (India) hit a record high of Rs 3,238, up 4 per cent on the BSE, on Monday on reports that the Policybazaar plans to raise $150 million (around Rs 1,100 crore) as buffer capital in Q3 of this fiscal. In separate news Policybazaar is planning to have an initial public offering (IPO) with valuation worth $3.5 billion.

Policybazaar, which counts SoftBank Group Corp.’s Vision Fund, Tiger Global Management and Tencent Holdings Ltd. among its largest backers, may become the first of India’s digital-era upstarts to go public, the Economic Times report suggested.

Info Edge (India) is among the leading internet companies in India. The company has made significant strategic investments into emerging internet companies – zomato.com, meritnation.com, policybazaar.com, Canvera.com, happily unmarried.com.