Getit Infoservices to raise Rs 216 Cr from Investors

getithotdeals.pngLocal search company Getit Infoservices Private Limited is raising Rs 216 cr from a foreign investors, according to a filing on the Foreign Investment Promotion Board. We are waiting to hear more on this.

In February, Getit had appointed Jaspreet Bindra, a former Microsoft India executive as its Chief Executive Officer. Getit also partnered with Yahoo recently to revive its local search portal.

Founded in 1986, Getit was a yellow pages company which ventured into free classifieds and online listings.

The company sold 50% of its stake two years ago to Malaysian pay TV firm Astro for about Rs 100 cr. Venture capital firm Helion also invested Rs 20 cr in Getit in 2009.

Recently, Getit Infoservices had bought Yellow Pages and ASK Me from media group Network18 for an undisclosed amount.

Getit’s competitor Justdial recently IPO‘e and raised over Rs 800 cr.

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