Info Edge’s stakes in Zomato, Policybazaar valued at Rs 31,500 crore

Naukri parent Info Edge’s stakes in Zomato and Policybazaar are valued at Rs 31,500 crore (around $3.7 billion) as of March 31, according to cofounder Sanjeev Bikhchandani. The Noida-based firm had originally invested Rs 1,075 crore (about $126 million) in these two companies.Despite having sold stakes worth over Rs 3,000 crore in Zomato during its 2021 IPO, Info Edge’s remaining holdings still constitute a significant portion of its portfolio. In total, the company has invested Rs 3,959 crore ($467 million) across startups through its balance sheet and venture fund, estimating the fair market value of these investments at Rs 36,855 crore (approximately $4.3 billion). This results in a gross internal rate of return (IRR) of 36%.

Bikhchandani noted that Info Edge has been investing in early-stage technology startups since 2007, and this activity now contributes an estimated 30-40% of the company’s value, second only to Naukri.com. The firm has invested in 111 companies, of which 76 have attracted institutional co-investors or follow-on investors.

He emphasised the importance of public listings as the preferred exit route for their investments, stating that almost all significant returns have come through IPOs rather than mergers and acquisitions (M&A), which are rare in the Indian market.

Also Read: Info Edge Q3 Results: Net profit jumps 60% YoY to Rs 243 crore, revenue rises 15%

Key investments, portfolio companies

Apart from Zomato and Policybazaar, Info Edge’s portfolio includes companies such as TrueMeds, Geniemode, Attentive.ai, Aftershoot, Mirana, Osfin, and InPrime, which have raised follow-on funding from investors including Accel, Peak XV Partners, Matrix, Westbridge, Tiger Global, and Multiples PE.

Another portfolio firm, omnichannel jewellery retailer Bluestone, has received follow-on funding from Prosus, Peak XV, and Steadview Capital. The company, which has filed for an IPO and received market regulator approval last December, has attracted Rs 150.59 crore in investment from Info Edge through two of its funds.

On Wednesday, shares of Info Edge closed down 0.26% at Rs 1,393.40 on the BSE.

Also Read: Sanjeev Bikhchandani on BluSmart: ‘Drivers are worst hit’