Info Edge gains after acquiring stake in Qyuki Digital Media

The shares of Info Edge, India’s premier online classifieds company for recruitment, gained more than eight per cent on Monday after the company informed that it has acquired stakes in Qyuki Digital Media.

In a regulatory filing, Info Edge said that it has invested Rs 25.2 crore in Qyuki Digital Media to acquire 5.36 per cent on a fully-converted and diluted basis. The company subscribed to 9,16,365 Compulsory Convertible Preference Shares (CCPSs) of Qyuki Digital Media firm.

Apart from this, Info Edge already has investments in a number of startups, including Zomato, Jeevansathi, 99 acres, Shiksha, Naukri and so on. Meanwhile, Qyuki Digital Media is an artist-focussed network founded by A R Rahman, Shekhar Kapur and Samir Bangara. The company had a turnover of Rs 67.8 crore in FY19.

At 10.02 am on Tuesday, Info Edge is trading at Rs 2,891.00, up by 2.94 per cent or Rs 82.55 per share against its previous close of Rs 2,808.45. Its 52-week high is recorded at Rs 2,932.10 and 52-week low is at Rs 1,589.00 on BSE.