Info Edge to set up educational portal

MUMBAI: Info Edge India, the parent company of Naukri.com and Jeevansathi.com, plans to raise Rs 500 crore for launching its third portal, Shiksha.com

The company is also scouting for acquisitions and expanding its operations further. Among other instruments, the company is likely to float foreign currency convertible bonds (FCCBs) to raise the Rs 500 crore.

Sanjeev Bikhchandani, founder and chief executive officer, Info Edge India, said, “We are keeping a time window of 12 months in mind to gradually use the money being raised.”

While around Rs 50 crore will go into setting up the portal, around Rs 60 crore will be utilised for land acquisition and setting up new offices in Noida. A lion’s share of the proceeds will be kept aside for acquisitions.

Shiksha.com will be an educational portal, which will have a listing of educational institutes offering short-term and long-term professional courses in India and abroad. It is mainly meant for college starters.

s_tanvi@dnaindia.net