Wednesday
June 1
2022

Info Edge Has Lost Over $1.2 Billion on Its Investment in Zomato, Policybazaar

By Kritti Bhalla

Sanjeev Bhikchandani-led Info Edge has lost ₹9,491 crore ($1.2 billion) in its investment in tech startups Zomato and PolicyBazaar since their stock market debut. The development comes as tech and startup stocks underwent a meltdown in the last few months.
According to Business Insider’s calculations, the Naukri.com and Jeevansathi.com’s parent company has made ₹12,656 crore ($1.6 billion) on its investment in the two companies as of May 30. This investment however was once worth more than twice of what they’re now worth —- at ₹22,148 crore ($2.8 billion), as per their listin day valuations.

Notably, Info Edge owns 15.23% stake in restaurant aggregator business Zomato and 13.3% stake in financial services company PB Fintech, which is the parent company of PolicyBazaar and PaisaBazaar.

Source: Business Insider India (link opens in a new window)

Categories
Finance, Investing, Technology
Tags
financial services, impact investing, startups, tech, technology