The company, at its discretion, has also offered a discount of up to 5% on the floor price in the QIP. QIP is a tool used by public companies to sell shares or other securities, which are convertible into stocks, to qualified institutional buyers including mutual funds and insurance companies. The company had passed a special resolution after voting through postal ballot (e-voting) and 99.53% votes were cast in favor of issuing fresh capital. The development has triggered a 7% jump in Info Edge stock as compared to Tuesday. It was trading at Rs 3200 per share at the closure of the market yesterday. It has climbed up to Rs Rs 3,378 per share at the time of publishing this story. It is worth noting that Info Edge is the second major company after Kotak Mahindra Bank to raise funds through QIP this year. In May, the private bank raised Rs 7,442 crore from Canada Pension Plan Investment Board, ICICI Prude, and Invesco Oppenheimer Developing Markets Fund.