Info Edge shares up 5 pc on investment in Zomato

Stocks of Info Edge India surged nearly 5 per cent today as the internet firm invested Rs 155 crore in online restaurant guide Zomato.
Shares of Info Edge surged 4.03 per cent to end at Rs 834.45 on the BSE. During the day, it soared 4.3 per cent to Rs 836.60.
At the NSE, the scrip jumped 4.72 per cent to settle at Rs 837.50.
Info Edge India has invested Rs 155 crore in online restaurant guide Zomato, which would use the amount to further expand its business.
"Info Edge (India), through its wholly-owned subsidiary, has invested Rs 1.55 billion (Rs 155 crore) in Zomato, being Info Edge's proportionate share of Zomato's recent fund raise of USD 50 million," Info Edge had said in a statement on Friday.

Upon completion of the allotment of shares, Info Edge's aggregate investment in Zomato will be about Rs 484 crore.
"Info Edge, along with its wholly-owned subsidiary will continue to hold, on a fully converted and diluted basis, 50.1 per cent of Zomato," it had said.