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.