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Naukri.com CEO Sanjeev Bikhchandani can smile now. The IPO of Info Edge (India) Ltd, the owners of jobs portal Naukri.com, opened today. The first day has been pretty good from the institutional point of view. The issue has been oversubscribed 3.34 times which is mainly contributed by qualified institutional buyers (QIBs). The participation of retail and non-institutional subscribers has been negligible.

The issue has been priced in the band of Rs 290 and 320. According to sources, the subscription has happened all at the top end of the price band. Info Edge is looking to raise Rs 170 crore ($37 million) from the IPO. The issue is open till November 2.

This is the first Indian internet IPO (to be listed in Indian stock markets).

More details in ContentSutra.