Info Edge pegs Zomato, PB Fintech holdings at $3.7 billion

Info Edge (India) Ltd has pegged the combined value of its holdings in two of India’s top tech internet firms—Zomato and PB Fintech (which operates Policybazaar and Paisabazaar)—at Rs 31,500 crore (approximately $3.7 billion) as of March 31, 2025, according to its latest disclosures.

The Gurugram-based internet conglomerate holds a 12.38% stake in Zomato and 19% in PB Fintech—key pillars of Info Edge’s listed tech portfolio that continue to add significant value to its balance sheet.

According to an analyst report from Info Edge, its investment activities account for approximately 30–40% of the company’s overall value. The firm made its initial investments in Policybazaar in 2008 and Zomato in 2010, when the firms were valued at Rs 21 crore and Rs 9.4 crore, respectively, as per shareholder records.

So far, Info Edge has backed 111 startups using a mix of its own capital and funds through its Alternative Investment Fund (AIF) arm. It has invested Rs 3,959 crore across these companies, while the fair market value of its portfolio stands at Rs 36,855 crore ($4.33 billion), implying an estimated gross internal rate of return (IRR) of 36%.

While Info Edge has not indicated any immediate plans to exit or monetize these key holdings, the disclosures reaffirm how startup equity continues to be a critical pillar in its long-term value creation strategy.

The only issue is how the movement of these two firms' stock prices has dictated Infoedge’s own stock price, making it a little difficult to keep track for some investors. The firm recently went for a stock split in the ratio of 1:5 to increase liquidity and make the share more within retail reach, but it is clear that the overhang from Eternal and Policybazaar will  remain. In fact, the pure play businesses of Infoedge and their relative performances have been lost in the fog of valuation of its investment portfolio, perhaps making a stronger case for a separate listed firm for all its investment holdings.