Info Edge is very much a news maker; the stock price rose over 2.5% at Rs.5074 and surged further to Rs.5100, up over 3%. Volumes are muted though at 16k shares traded today over the 2W average of 26k shares.
The stock price has reacted positively to the news that the conpanym which holds a 19% stake in Zomato, plans to sell its stake worth Rs.750 crore in the IPO.
Zomato filed the DRHP with SEBI for what is probably being touted as the ‘most awaited IPO’ in a long time. Zomato’s IPO will comprise of fresh shares and an offer for sale by Info Edge.