Info Edge IPO opens on Oct 30

Mumbai, Oct 26: Info Edge (India) Ltd, a leading provider of online recruitment like www.naukri.com and matrimonial classifieds and related services in India, proposes to enter the capital market on October 30, with an IPO of 5,323,851 equity shares of Rs ten each through 100 per cent book building process.

The Company's MD and CEO Sanjeev Bikhchandani told mediapersons here today that, ''The price band has been fixed at Rs 290 to Rs 320 per euity share. The issue closes on November 2,2006. The issue will constitute 19.50 per cent of the fully diluted post issue paid up equity capital of the company. ICICI Securities Ltd and Citigroup Global Markets India Pvt Ltd are the BRLM's for the issue and Intime Spectrum Registry Ltd is the registrar to the Issue. The Company has established and currently maintain a network of 45 offices located in 30 cities throughout India, and an office in Dubai, which primarily engage in sales.'' The objective of the issue are to raise capital for developing and expanding our business and also to achieve the benefits of listing on the stock Exchanges.

We believe that listing will enhance our brand name and provide liquidity to our shareholders. The main objects clause and the objects incidental or ancillary to main objects clause of Memorandum of Association enable us to undertake our existing activities and the activities for which funds are being raised by us in the issue,'' Mr Bikhchandani added.

UNI