Info Edge (India) Limited has informed the Exchange regarding Notice of Postal Ballot & Remote E-voting - Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Info Edge (NSE: NAUKRI) has sent out a Postal Ballot Notice dated April 18, 2025, seeking shareholder approval for one ordinary resolution: to invest up to ₹1,000 Crores in IE Venture Investment Fund III (IEVI Fund III), a new Category II AIF floated by Karkardooma Trust (KT), directly or through wholly owned subsidiaries including Smartweb Internet Services, Startup Investments (Holding) Ltd, and Startup Internet Services Ltd. Once Smartweb (a wholly owned subsidiary) executes the investment management agreement as sponsor/investment manager, KT becomes a related party, making this a Material Related Party Transaction under SEBI Listing Regulations. Remote e-voting opens on April 25, 2025 (9:00 AM IST) and closes on May 24, 2025 (5:00 PM IST). The target corpus of IEVI Fund III is ₹1,000 Crores with a green-shoe option of an additional ₹1,000 Crores, with external investors also expected to participate.
Approval is being sought to continue Info Edge's successful early-stage venture investing strategy – prior investments produced listed winners like Zomato and Policybazaar (combined market cap ~₹2.68 Lakh Crores as of March 31, 2025), and existing AIFs have delivered a gross IRR of ~18.7% on a NAV of ₹2,889 Crores as of December 31, 2024. For shareholders, this means a fresh ₹1,000 Crore capital commitment to a related-party fund, locking in more capital into AIF structures; the resolution is routine procedural given prior fund performance, but the size and related-party nature mean promoters/related parties cannot vote on it.