Info Edge, which has majority share holding in restaurant listings and food delivery startup Zomato, may consider bringing its stake below 50% in the company in the next major round of funding. Answering a query from analysts, InfoEdge founder and vice chairman Sanjeev Bikhchandani said that the company is unlikely to invest in Zomato alone but may consider participation with other investors in its next round of funding. During the quarter, Info Edge invested Rs 152 crore in Zomato to maintain its stake at 50.1%. "Given the size of our balance sheet and given our priorities in investing in 99acres, it would be difficult for us to give these companies all the money they need," Bikhchandani said. "We will support our companies, but it is unlikely that we will be doing it alone. And therefore, in Zomato, I have said this earlier in an analyst call that, in all likelihood, if there is a next round of a significant size, we will probably go below 50%," he added. Note that in November 2014 Bikchandani had stated that Info Edge would be reluctant to reduce stake in Zomato below 50% as Naukri, 99Acres and Zomato were the three businesses that were “moving the needle” for them. Zomato had reported an EBIDTA loss of Rs 136 crore for the 12 month period ended 31st March 2015 (FY15), compared to the Rs 41.39 crore loss reported in FY14. It had generated total operating revenue of Rs 96.7 crore in FY15, more than three times the Rs 30.6 crore operating revenue…
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