Comments
Shares of Info Edge (India) on Tuesday surged 7 per cent after the company’s board of directors approved fund raising of up to ₹1,875 crore.
On BSE, the scrip jumped 6.80 per cent to ₹2,959.20 and, it rose by 6.96 per cent to ₹2,962.20 on NSE.
The company’s board of directors has approved fund raising of up to ₹1,875 crore through issue of equity shares via qualified institutions placement (QIP).
“(The board approved) raising of funds through issue of equity shares of face value of ₹10 each of the company by way of QIP to eligible qualified institutional buyers for an aggregate amount not exceeding ₹1,875 crore... subject to the approval of the members of the company,” it said in a filing to the BSE.
Meanwhile, Info Edge (India) on Monday posted over 63 per cent decline in consolidated net profit at ₹119 crore for the quarter ended March 2020.
The company had registered a net profit of ₹325.2 crore in the year-ago period, it said in a filing to the BSE.
Its consolidated income from operations, however, increased 7.8 per cent to ₹327.5 crore in January-March quarter from ₹303.8 crore in the year-ago period.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.