In a significant development, Info Edge (India) Limited has received shareholder approval to proceed with a major investment of up to ₹1,000 crore in IE Venture Investment Fund III, a scheme under Karkardooma Trust. The approval was sought through a postal ballot and remote e-voting process, reflecting the company's adherence to regulatory transparency and shareholder engagement.
The proposed investment, considered a material related party transaction under SEBI regulations, involved Info Edge (India) Ltd committing up to ₹1,000 crore to IE Venture Investment Fund III. The fund is managed by Karkardooma Trust, which is deemed a related party due to its association with Smartweb Internet Services Ltd, a wholly owned subsidiary of Info Edge and the fund's proposed investment manager.
The e-voting process, conducted between 25 April and 24 May 2025, enabled shareholders to cast their votes electronically. Members holding equity shares as of the cut-off date, 17 April 2025, were eligible to vote. In accordance with regulatory requirements, only electronic voting was facilitated; no physical ballots were issued.
The resolution saw widespread participation and overwhelming support. Out of 1,274 members who voted, 1,271 cast valid votes. Of the 5,73,74,899 valid votes, an impressive 99.999% were in favour of the ₹1,000 crore investment, with only 315 votes (0.001%) against.
Public institutions, holding a major share of the equity, voted unanimously in favour. Public non-institutional shareholders also backed the resolution, with over 99.98% of votes supporting the investment. The promoter and promoter group did not participate in the voting process, ensuring impartiality.
Read More: Info Edge FY25 Business Update
As of May 26, 2025, at 9:30 AM, Infoedge share price is trading at ₹1,484.50 per share, reflecting a decline of 0.30% from the previous day's closing price. Over the past month, the stock has surged by 6.48%.
The successful passing of the resolution empowers Info Edge (India) Ltd to invest up to ₹1,000 crore in IE Venture Investment Fund III. With the Board now authorised to execute all related agreements and formalities, this move underscores the company’s strategic focus on future-ready investments while maintaining robust governance standards.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: May 26, 2025, 2:29 PM IST
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