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Sherpalo, Kleiner Sell Stake In Infoedge; Net 2x

22 March, 2010

Ace venture capitalist Ram Shriram’s Sherpalo Ventures and Kleiner, Perkins, Caufield & Byers — early investors in job search portal Naukri.com– have sold almost their entire stake in Infoedge, the firm that operates the website. The two investors have sold a little less than 4% stake in the company for around Rs 86 crore, generating over 2x ‘net’ returns on their four-year-old investment.

The investors had together invested around Rs 27 crore in April 2006 just prior to Infoedge IPO and held a little over 2% stake each post issue. Shriram owned the shares through Sherpalo Ventures while and Kleiner, Perkins, Caufield & Byers had invested through Murugan Capital.

Both held 5.57 lakh shares each since the company got listed. While Sherpalo Ventures sold the entire holding through a bulk deal at NSE last Friday, Murugan Capital sold over three-fourth of its holding through the bulk deal window at a price of Rs 876.13 each.

A large chunk of the shares were bought by two separate mutual fund schemes of Reliance Capital: Reliance Tax Saver Fund and Reliance Equity Opportunities Fund.

Shriram and and Kleiner, Perkins, Caufield & Byers have made other co-investments in India including travel booking website Cleartrip.com besides PayMate and CE Infosystems.

 


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Sherpalo, Kleiner Sell Stake In Infoedge; Net 2x

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