Rahul Yadav-Info Edge Controversy: In yet another case of another Indian founder taking his startup for a joyride, the founder of Broker Network, which is operated by 4B Networks, Rahul Yadav reportedly maintained a luxurious lifestyle such as owning a Mercedes-Maybach and hiring a boardroom at the Taj Land's End for Rs 80,000 per day even as the employees at the firm were left unpaid for months., Companies News, Times Now
Shares of Info Edge (India) rose 5 per cent to Rs 5,626 on the BSE in intra-day trade on Monday after media reports said Securities and Exchange Board of India (SEBI) has approved the initial public offering (IPO) application of food delivery company Zomato. Info Edge held an 18.55 per cent stake in Zomato as of April 27, 201, according to Draft Red Herring Prospectus. The stock of Info Edge (India) has rallied 14 per cent in the past three trading days. Meanwhile, Info Edge has reconsidered its offer to sell shares worth Rs 750 crore in the upcoming IPO of Zomato. Info Edge, in a regulatory filing, said it will now be selling only 50 per cent, or Rs 375 crore, of the initial offer as offer-for-sale (OFS) in Zomato’s IPO.