Info Edge India Ltd opens QIP with floor price of Rs. 766.89

The QIP Committee of Info Edge (India) Ltd at its meeting held on September 04, 2014 and pursuant to the board and shareholder resolutions dated July 18, 2014 and August 19, 2014, respectively, passed resolutions authorizing the opening of the Qualified Institutions Placement ("QIP") on September 04, 2014.

The committee approved and adopted the Preliminary Placement Document dated September 04, 2014 in connection with the QIP and determining that the "relevant date" for the purpose of this QIP in terms of Regulation 81(c)(i) of the SEBI Regulations is September 04, 2014, and that accordingly the floor price in respect of the aforesaid QIP, based on the pricing formula as prescribed in under Regulation 85 (1) of the SEBI Regulations is Rs.766.89 per Equity Share (the "Floor Price"); and authorizing the Company to offer, at its discretion, a discount of up to 5% on the Floor Price to investors in the QIP.

As per the Company's Code of Conduct for Prevention of Insider Trading, framed pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 1992, the Trading Window for dealing in the securities of the Company has been closed by the Company with reference to the aforesaid meeting with effect from September 03, 2014 for all the Directors/Officers/Designated Employees of the Company till further instructions.

Shares of INFO EDGE (INDIA) LTD. was last trading in BSE at Rs.769.35 as compared to the previous close of Rs. 758.05. The total number of shares traded during the day was 7081 in over 1678 trades.

The stock hit an intraday high of Rs. 772 and intraday low of 755. The net turnover during the day was Rs. 5424398.

Source : Equity Bulls

Keywords