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Info Edge (India) says Zomato raises $160 mln From Tiger Global, Temasek unit

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Info Edge (India) said Zomato closed primary fund raising of $100 million from Tiger Global Management and $60 million from MacRitchie Investments, an indirect wholly-owned subsidiary of Temasek Holdings.

The food-delivery startup is now valued on a post-money valuation of $3.3 billion. On a fully converted and diluted basis, Info Edge (India)'s effective stake in Zomato stand at 22.2%. The announcement was made after market hours yesterday, 10 September 2020.

Info Edge (India) reported a consolidated net profit of Rs 93.66 crore in Q1 June 2020 as against net loss of Rs 190.92 crore in Q1 June 2019. Net sales fell 10.8% to Rs 285.05 crore in Q1 June 2020 over Q1 June 2019.

Info Edge (India) runs leading internet businesses like Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com. The company also owns Quadrangle and Naukri Gulf. Info Edge has made significant strategic investments into emerging internet companies - zomato.com, meritnation.com, policybazaar.com, Canvera.com, happilyunmarried.com.

Shares of Info Edge (India) fell 0.35% to Rs 3,376. The scrip grew 113.67% from its 52-week low of Rs 1,580 hit on 23 March 2020.

On the technical front, the stock's RSI (relative strength index) stood at 56.691. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day moving average (DMA) placed at 3,207.22 and its 200-day moving average (DMA) placed at 2,719.49.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 11 2020. 11:14 IST
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