Info Edge (India),Highly overvalued or fairly valued? A Case Study….Kinda

I’m having a very difficult time in understanding the valuation of this company. On one hand, its PE ratio is extremely high. (PE is >180) On the other hand,the business model of this company is all about growth. Few companies that they own are as follows:- 1.Naukri.com 2.Shaddi.com 3.Shiksha.com 4.99acres.com Now the funny thing is since they’re all service based companies,they don’t really have much of a MOAT but they’re all either the market leaders or top 3 in their respective industries. They also have a major stake in the following companies:- 1.Zomato/Eternal (15%) 2.PolicyBazzar (20%) And a few others. Coming on to the most interesting part of their business is that they also act as an investment company where they are actively investing in new tech startups,which is really interesting to me since they were already able to find interesting business like PolicyBazzar and for some people(not me) Zomato. So there is a lot of value when you purchase their stock no doubt,but here are my personal concerns aside from the expensive valuations. 1.Low Promoter Holding (<50%) As a personal rule,I don’t really like investing in companies which have a promoter holding of less than 50%. 2.Their board just approved a stock split. Now some people like stock split as it improves liquidity while some people don’t like it since it attracts investments from short-term or weak investors. I’m personally against this as splitting the stock would attract more investments and would make an already expensive stock even more expensive from a valuation perspective even if the stock itself becomes more affordable due to the split. (I’ve already experienced this first hand through Sky Gold) This is all from my side,Let me know if you own it already or it’s on your watchlist and what do you guys think about this stock regarding it’s valuations and business model and kindly let me know if I missed anything See you in the comments for an insightful discussion