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Info Edge: “We would be reluctant to reduce stake below 50% in Zomato”

Online food guide Zomato, an investee company of Info Edge* seems to have gained much significance for the company that it is reluctant to reduce its stake below 50% in Zomato. Responding to an analyst question on whether Info Edge will retain its 50% stake in Zomato even if the valuation is high few months or few years down the line during the company's Q2-FY15 earnings conference call, Info Edge founder and vice chairman Sanjeev Bikhchandani mentioned that Naukri, 99Acres and Zomato are three businesses that are currently "moving the needle" for them. "So naturally we will be reluctant to let go off any of that". When asked on how much are they willing to go to retain this stake, Bikhchandani mentioned that they will evaluate that on a case by case basis, depending on how the company is doing, what the risk levels are and how it is trending. "As far as we are concerned we would like to remain above 50% but I cannot be more specific than that until a specific situation presents itself." On Zomato's rumored $1 billion valuation: On the rumored ET report of Zomato raising money at post money evaluation of $1 billion, Bikhchandani said that the article was speculative and they had immediately denied this story. "Zomato is doing very-very well, investors keep talking to them. We do not believe that they will get $1 billion round valuation in the next two to three months." https://twitter.com/sbikh/status/519432817596317698 On Zomato's fundraising needs: Zomato has been quite aggressive with its International rollout, launching its operations…

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