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Info Edge advances 4%, hits record high on report Policybazaar mulls IPO

Policybazaar is planning to have an initial public offering (IPO) with valuation worth $3.5 billion

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In the past one month, the stock outperformed the market by gaining 20 per cent, as against 7.5 per cent rise in the S&P BSE Sensex.

SI Reporter Mumbai

2 min read Last Updated : Jul 20 2020 | 10:56 AM IST

Shares of Info Edge (India) hit a record high of Rs 3,238, up 4 per cent on the BSE, on Monday on reports that the Policybazaar plans to raise $150 million (around Rs 1,100 crore) as buffer capital in Q3 of this fiscal. In separate news Policybazaar is planning to have an initial public offering (IPO) with valuation worth $3.5 billion.

Policybazaar, which counts SoftBank Group Corp.’s Vision Fund, Tiger Global Management and Tencent Holdings Ltd. among its largest backers, may become the first of India’s digital-era upstarts to go public, the Economic Times report suggested.

Info Edge (India) is among the

Topics : Info Edge (India) Buzzing stocks Markets

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