Shares of Info Edge (India) was up 2.63% at Rs 1525 at 10:43 IST on BSE.
Info Edge (India) announced that Zomato Media ('Zomato') has signed a definitive agreement to undertake a primary fund raise of approximately $210 million from Alipay Singapore Holding (which is an existing shareholder of Zomato) and/or any of its affiliates, and upon the closing of this fund raise, Info Edge (India)'s shareholding in Zomato stands reduced to about 27.68% on fully converted & diluted basis. As of 31 March 2018, Info Edge (India) owned about 30.91% of the share capital of Zomato on fully converted & diluted basis. The announcement was made after market hours on Friday, 12 October 2018.
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