The shares of Zomato and Blinkit-parent company Eternal have seen a sharp surge, jumping over 122 percent since its listing in 2021. The rally signalled huge returns for its pre-IPO investor Info Edge. The Naukri.com-parent, which had invested Rs 86 crore in the food delivery startup between 2010 and 2013, has seen the value of its stake significantly multiply over the years. Info Edge held a 12.38 percent stake in Eternal at the end of the September quarter of the ongoing financial year 2026.
The Sanjeev Bikhchandani-led company has diluted its stake in Eternal several times in between, including during the company’s initial public offering in 2021 that delivered strong returns. During the IPO, Info Edge made a bumper profit of 64.5 times on the issue price.
Zomato shares (now known as Eternal) listed with a premium of over 51 percent over the IPO price at Rs 115 apiece. After the IPO success, Info Edge Founder Sanjeev Bikhchandani told Moneycontrol that Zomato’s strong listing was the ultimate validation and public proof of the doctrine – “invest smartly in start-ups and over a decade or so you will strike gold”.
“These start-ups will go on to become giants and will create new industries, categories and business models. They will create jobs and deliver growth. They will power the industries they serve in. They will create greater customer satisfaction and choice. And they will ultimately create value for our shareholders. Zomato is a shining example of this,” Info Edge Founder Sanjeev Bikhchandani told leading daily, Moneycontrol after the IPO’s success.
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