Info Edge gains over 3% as Zomato acquires Uber Eats' India business

The deal is applicable only in India and Uber Eats will continue to operate in Bangladesh and Sri Lanka.

Shares of Info Edge (India) climbed as much as 3.36 per cent to hit a high of Rs 2,676 apiece on the BSE in the intra-day trade on Tuesday after food aggregator Zomato signed a definitive agreement to acquire Uber Eats, Uber's food delivery business in India, in an all-stock transaction. 

Info Edge has a stake in Zomato, which upon closing of the said acquisition, will reduce to about 22.71 per cent on fully converted and diluted basis, it said in a regulatory filing. READ MORE

At 10:21 am, the stock was trading nearly 1.5