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Naukri (Infoedge Ltd) stocks listed and reach a high of Rs.624
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We had an article about the naukri IPO which was over subscribed 55 times and about the Rs.290-320 Price Band offering. Well India’s first true blue internet company has been listed on the stock markets (both NSE and BSE) and in just one day it has doubled it valuations! Naukri i.e. Infoedge Ltd stocks hit a high of Rs.624 today afternoon there by almost doubling the IPO price band of Rs.290 - 320. Naukri has raised Rs.174 crores from this IPO and i dont think one can imagine what it would be doing with that kind of money!
Well the IPO propectus of Naukri.com did mention about pumping funds into their matrimony portal jeevanSaathi.com and their real estate portal 99acres.com. Also they have an offline recruitment arm known as Quadrangle which would be invested in as well. Besides that they are expected to go on a aquisition spree as they IPO propectus mentions keeping Rs.30 crores aside for acquisitions!
Well all i can say is that this IPO listing and its success is very good news for the Internet industry in general and more for the e-recruitment space as more and more people would now feel confident on the economic viability of this segment and we can expect to see innovation as a key driver which will keep increasing the value delivered by this industry.
For all those who want to keep a constant watch on the Naukri Stock CLICK HERE
UPDATE: MoneyControl.com has published an interview with Investment Advisor, PN Vijay who believes that Info Edge is one of the most interesting new wave stories in the Indian stock market.
Here are Excerpts from CNBC-TV18’s exclusive interview with PN Vijay:
Q: Info Edge, where do you see it listing and what do you think of the business?
A: That’s a very interesting business model; they have several franchises, which have strong brand names and well known in the market. So it should get a good listing because of the story value. These type of new wave industries at some point in time put valuation like we have seen in multiplexes and those type of things. But right now with the type of franchises that they have in the Internet space, they will get a good listing.
Q: What would you do with Info Edge right now, Rs 320 was the issue price, stock at Rs 570 already, where does it go from here?
A: There is no need to sell Info Edge in a panic or in a spirit of greed. It’s got a great concept and got business models, which some of them are at least revenue positive. I would hold on to Info Edge even after this strong listing.
Read the entire interview here
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