Info Edge raises $124m from follow on

India's largest online job site received solid uptake from a follow-on offering on Friday, buoyed by strong share performance.

Info Edge, India’s largest online job site, raised Rs7.5 billion $124 million from a follow-on offering Friday.

The company, the country’s first internet company to go public nearly eight years ago, priced 10.1 million primary shares at Rs740 per share, a 3.5% discount to the September 4 close of Rs765.7 per share.

The final price of Rs740 per share is towards the middle of its indicative Rs730 to Rs755 per share range, which represented a 1.4% to 4% discount to the September 4 close. CLSA and Indian bank Infrastructure Leasing Financial Services ILFS oversaw the deal.

Some 30 institutional investors participated in the...

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