Info Edge Stock Surge On Investing In Online Footwear Site ShoeKonnect

Info Edge India Ltd has invested Rs.6.00Crore through its wholly-owned subsidiary in Bizcrum Infotech (‘ShoeKonnect’). The company has acquired 60,00,000 at the rate of 0.01-percent Compulsorily Convertible Preference Shares having a face value of Rs10 each. The combined shareholding of the company after this investment would be 29.79% on a fully converted and diluted basis. InfoEdge said in a regulatory filing.

At 12:10 hrs share price of Info Edge India was quoting at Rs1,927.95, up Rs 37.20, or 1.97% on the BSE.

At the same time, greater share price was quoted in NSE on Info Edge India share price at Rs.1928.20per share up Rs44.05 or 2.34%.   The stock touched an intraday high of Rs1930 on NSE.  Meantime, benchmark Sensex were trading lower by 91points at 38847-level and the Nifty down by 23points at 11648.30.