Please Share:: 
Building warchest for future...
Info Edge has raised | 750 crore through placement of securities last
week by offering 1.01 crore shares at | 740 apiece (3.5% discount to floor
price of | 766.89 as decided during the AGM). The company plans to use
the proceeds primarily for 99acres to invest in 1) expanding to more cities
(80% of additional hiring is in 99acres during Q1FY15), 2) product
development, 3) data quality and verification services, 4) analytics, 5)
mobile apps (>30% of traffic generated is from mobile) as well as 6)
acquisitions.
Re-rating likely to continue on improving growth outlook; maintain BUY
Info Edge reported a healthy Q1 led by improvement in flagship Naukri
business and continued momentum in other verticals (99acres, Shiksha).
The management indicated demand uptick in Naukri may continue in
FY15E while other verticals (99acres, Shiksha) could aid overall company
growth. We are raising our estimates and expect revenue, PAT CAGR of
25%, 44%, respectively, in FY14-16E. We raise our DCF based target price
to | 950, which discounts our FY16E EPS estimate of | 15.5 by 54x.
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
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Building warchest for future...
Info Edge has raised | 750 crore through placement of securities last
week by offering 1.01 crore shares at | 740 apiece (3.5% discount to floor
price of | 766.89 as decided during the AGM). The company plans to use
the proceeds primarily for 99acres to invest in 1) expanding to more cities
(80% of additional hiring is in 99acres during Q1FY15), 2) product
development, 3) data quality and verification services, 4) analytics, 5)
mobile apps (>30% of traffic generated is from mobile) as well as 6)
acquisitions.
Re-rating likely to continue on improving growth outlook; maintain BUY
Info Edge reported a healthy Q1 led by improvement in flagship Naukri
business and continued momentum in other verticals (99acres, Shiksha).
The management indicated demand uptick in Naukri may continue in
FY15E while other verticals (99acres, Shiksha) could aid overall company
growth. We are raising our estimates and expect revenue, PAT CAGR of
25%, 44%, respectively, in FY14-16E. We raise our DCF based target price
to | 950, which discounts our FY16E EPS estimate of | 15.5 by 54x.
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
LINK
http://content.icicidirect.com/mailimages/IDirect_InfoEdge_QC_Sept2014.pdf
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