Info Edge’s bet on Eternal now makes up over a third of its market cap
Shares of Info Edge (India) rallied as much as 4.4% on Tuesday to Rs 1,465 on BSE, after the latest earnings-fuelled rally in Eternal, the parent company of Zomato and Blinkit, lifted the value of Info Edge’s stake in the firm to more than a third of its own market capitalisation.
Info Edge holds a 12.38% stake, equivalent to 119.46 crore shares, in Eternal, according to the shareholding pattern for the June quarter filed with the BSE. With Eternal shares soaring nearly 15% on Tuesday to a fresh all-time high of Rs 311.60, that holding is now valued at approximately Rs 37,226 crore.
