Info Edge, a leading Indian classified company known for platforms like Naukri.com and 99acres.com, has completed the sale of its 34.93% stake in B2B startup Wishbook Infoservices. The divestment was carried out through Info Edge’s wholly-owned subsidiary Startup Investments (Holding) Limited on September 23.
The company had previously announced its board’s approval for the stake sale on May 16. Wishbook, founded in 2016, provides catalogue distribution services enabling manufacturers, wholesalers and retailers to access product and sales information.
Following the divestment news, Info Edge shares jumped 1.09% intraday on September 24 to reach Rs. 8,232.60 on the BSE. However, most gains were trimmed as shares closed 0.06% higher at Rs. 8,148.85. Info Edge’s market cap was over Rs. 1.05 trillion with around 37,450 shares trading hands.
The stock had touched a 52-week high of Rs. 8,259.95 on September 23, reflecting healthy 58.5% year-to-date returns for investors. Financially, Info Edge reported a robust 75% yearly and 195% quarterly jump in Q1 FY25 profits to Rs. 258.85 crore. Revenue growth was also strong at 20% and 2% respectively for the same periods, reaching Rs. 827.92 crore.
Info Edge is well-known for diversified holdings such as Zomato, Policybazaar and Byju’s. With the Wishbook exit, it divests from another early-stage startup as it continues expanding selectively across new sectors. The strategic sale allows both companies to focus on independent growth strategies.
