Info Edge (India) Limited , a leading Indian tech company, has announced a significant development in its venture investment arm. IE Venture Investment Fund III, sponsored by Smartweb Internet Services Limited, a wholly-owned subsidiary of Info Edge, has secured a substantial commitment from Greenland INR Holdings LLC.

Key Details of the Commitment

Terms and Conditions

The commitment is subject to certain conditions precedent, including:

• Completion of documentation to the satisfaction of both parties
• Fulfillment of other unspecified conditions

About the Fund

IE Venture Investment Fund III is a scheme of Karkardooma Trust, which is registered under the Indian Trusts Act, 1882. The fund has also secured registration with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund.

Corporate Disclosure

Info Edge (India) Limited, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has officially disclosed this development to the stock exchanges.

Looking Ahead

This commitment marks a significant milestone for IE Venture Investment Fund III. However, the finalization of this agreement is contingent upon meeting the specified conditions. The successful closure of this commitment could potentially bolster the fund's investment capabilities and contribute to Info Edge's broader strategy in the venture capital space.

Investors and market watchers will likely keep a close eye on how this development unfolds and its potential impact on Info Edge's future growth and investment strategies in the dynamic Indian tech ecosystem.

Info Edge India's shares experienced a notable uptick, climbing nearly 4% in recent trading. This surge comes on the heels of a strong performance by Eternal Ltd., the parent company of food delivery giant Zomato, in its latest quarterly results.

Eternal's Impressive Performance

Eternal shares skyrocketed by 15%, reaching all-time highs following the announcement of its June quarter results. This remarkable performance has had a significant positive impact on Info Edge, which holds a substantial 12.38% stake in Eternal.

Info Edge's Valuable Stake

The value of Info Edge's stake in Eternal has now surpassed ₹37,100.00 crore, representing more than one-third of Info Edge's total market capitalization of ₹94,000.00 crore. This highlights the significant contribution of the Eternal investment to Info Edge's overall valuation.

A Decade of Investment Growth

Info Edge's journey with Eternal began in August 2010 when it made an initial investment of ₹4.70 crore for an 18.5% stake during the seed funding round. By the time of Zomato's initial public offering (IPO) in 2021, Info Edge held close to a 19% stake in the company.

Current Trading and Year-to-Date Performance

As of the latest trading session, Info Edge shares were priced at ₹1,457.90. However, it's worth noting that the stock has experienced a 17% decline year-to-date.

Info Edge's Investment in Eternal (Zomato's Parent Company)

This recent surge in Info Edge's stock price underscores the significant value that its early-stage investments, particularly in successful ventures like Eternal (Zomato), bring to the company's overall market position.