Info Edge gains 3% after announcing setting up of AIF

Info Edge gains 3% after announcing setting up of AIF
Info Edge (India) informed the exchanges that it has set up an Alternative Investment Fund (AIF) named Info Edge Venture Fund IEVF, a trust registered with SEBI as Category II AIF, under the SEBI Alternative Investment Funds Regulations 2012, sponsored through Smarttweb Internet Services Ltd., its wholly owned subsidiary.

The objective of the fund is to invest in tech and tech-enabled entities that provide technology to create, market, and distribute innovative products and services that benefit consumers at large.

Further, the company has entered into a contribution agreement to invest about Rs100cr in IE Venture Fund I, a scheme of aforesaid IEVF. 

Stock View:

Info Edge (India) Ltd is currently trading at Rs2,684.45 up by Rs99.55 or 3.85% from its previous closing of Rs2,584.90 on the BSE.

The scrip opened at Rs2,601.50 and has touched a high and low of Rs2,697.80 and Rs2,601.50 respectively. So far 5,30,654 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs31,669.20cr.

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