Info Edge surges 13% in 2 days on Zomato's fund-raising plan report

The stock has rallied 19 per cent so far in October.

Shares of Info Edge (India) were up 6 per cent at Rs 2,398 on the BSE on Monday, surging 13 per cent in the past two trading days after a media report suggested that Zomato was planning to raise $600 million (approx. Rs 4,200 crore). Info Edge holds a 26.38 per cent stake in Zomato Media Private Limited (Zomato).

"Online food delivery and restaurant discovery platform Zomato is finalising a fresh $600 million round of fundraising likely to be led by existing Chinese investor, Ant Financial," The Economic Times reported on Friday, October 4, quoting two people in the