Naukri IPO To Raise $37 Million; Issue Opens On October 30
Naukri.com owner Info Edge (India) Ltd will open its initial public offering on October 30. The company plans to raise up to Rs 1.7 billion ($37 million), at a price band of Rs 290-320 ($6.4-$7.1), which would value the company at $188 million at the top end of the price band. Info Edge plans to sell 5.32 million shares, or nearly a fifth of its post-issue equity base. The issue would remain open between Oct. 30 and November 2. Info Edge runs sites like Naukri.com, 99acres.com and Jeevansathi.com. In May 2006, Kleiner Perkins Caufield & Byers and Sherpalo Ventures had picked up close to 5 per cent stake in Info Edge for $6 million. ICICI Venture also owns a stake in Info Edge. It had invested Rs 7.29 crore in 2000. , which has also backed Google Inc, and another venture capital firm, Sherpalo for a total of $6 million. Info Edge had a revenue of Rs 840.59 million and a net profit of Rs 132.9 million in the year ending March 2006. [Via Indiatimes and Cool Avenues]
Will Naukri go the Air Deccan Way???
How has KPCB allowed Naukri to go IPO?Are they panning to dilute their stake, even if they did the multiple on their investment would be 1.5 times, which of course on a annuitized basis would be in line with BSE index growth in same time period!
If they hold on to their stake, they can see a huge upside in the years t come. But why does naukri need an IPO…does it have scale capital issues, and is that not why you have KPCB and ICICI, etc in the first place?Or do the promoters just want to quit, while ahead?
Is this the right time to do IPO, probably missed the timing by about week to ten days.As markets generally go for a little swim and dive from post diwali BASE jumping heights!
Aristotle
I think naukri.com is going to go global., lets see
soon indians will get a portal thru which they can explore the lands available for residenial and commercial use .