Info Edge surges 13% in 2 days on Zomato’s fund-raising plan report

Shares of Info Edge (India) were up 6 per cent at Rs 2,398 on the BSE on Monday, surging 13 per cent in the past two trading days after a media report suggested that Zomato was planning to raise $600 million (approx. Rs 4,200 crore). Info Edge holds a 26.38 per cent stake in Zomato Media Private Limited (Zomato).

“Online food delivery and restaurant discovery platform Zomato is finalising a fresh $600 million round of fundraising likely to be led by existing Chinese investor, Ant Financial,” The Economic Times reported on Friday, October 4, quoting two people in the know.

In a clarification on the above news report, Info Edge (India) said, in the absence of any specific proposal to the board of Zomato or the company, it would be premature to comment on, confirm or deny the alleged news item at this point in time.