Info Edge (India) gains after allotment of shares to QIBs

Info Edge (India) rose 0.95% to Rs 881.50 at 10:01 IST on BSE after the company said it has allotted 1.01 crore equity shares to eligible QIBs at an issue price of Rs 740 per share, aggregating to Rs 750 crore.

The announcement was made after market hours on Friday, 12 September 2014.

Meanwhile, the S&P BSE Sensex was down 218.26 points or 0.81% at 26,842.78.

On BSE, so far 3,663 shares were traded in the counter as against average daily volume of 35,513 shares in the past one quarter.

The stock hit a high of Rs 895 and a low of Rs 880 so far during the day.

The stock outperformed the market over the past one month till 12 September 2014, advancing 13.03% compared with the Sensex's 4.56% rise. The scrip had also outperformed the market in past one quarter, jumping 18.73% as against Sensex's 5.81% rise.

The mid-cap company has equity capital of Rs 109.78 crore. Face value per share is Rs 10.

The qualified institutions placement (QIP) opened on 4 September 2014 and closed on 10 September 2014.

Info Edge (India)'s net profit rose 35.4% to Rs 39.81 crore on 20% growth in net sales to Rs 144.94 crore in Q1 June 2014 over Q1 June 2013.

Info Edge (India) is India's premier on-line classifieds company in recruitment, matrimony, real estate, education and related services.

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