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Fund duo ups stake in Info Edge

Mumbai, Feb. 23 (PTI): Foreign fund houses FMR Corp and Fidelity International have consolidated their stake to over 5 per cent in Info Edge India, which operates job portal naukri.com and matrimony site jeevansathi.com, in an open market transaction for an estimated Rs 10 crore.

In a deal that took place on February 20, FMR Corp and Fidelity International along with their direct and indirect subsidiaries, acquired an additional 0.55 per cent stake (1.5 lakh shares) to take their total shareholding in the Indian firm to around 5.38 per cent, a regulatory filing by Info Edge on the BSE shows.

Taking the intra-day high at Rs 667.80 of Info Edge on the transaction date, the calculation shows the foreign investors could have spent Rs 9.93 crore.

FMR Corp and Fidelity International along with associates previously held around 13.19 lakh shares representing 4.83 per cent stake in Info Edge.

Info Edge is a leading provider of online recruitment.

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