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Next Big Brand

IndiaMart IPO Fully Subscribed On Bidding Day Two

Saurav Bhagat by Saurav Bhagat
June 28, 2019
in News
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indiamart-logo-ipo-next big brand

source:- IPO Watch

IndiaMART InterMESH, an online marketplace for company products and services raised an initial public offer (IPO), was fully subscribed on June 25’s second bid day.

IndiaMart’s Expectation and Results:

The IPO, which aims to raise around Rs 475 crore, received bids for 27,94,440 shares against the complete issuance size of 26,92,824 shares, which translates into 1.04 times subscription, as per the NSE information. The category was subscribed 1.05 times for skilled institutional buyers (QIBs), 4% for non-institutional investors and 2.48 times for individual retail investors.

The IndiaMart IPO: Diving into the depth 

The aim of this issue of the IPO is to make use of the benefits of listing the shares on stock exchanges and for the sale offer (OFS). Notably, the business will not take advantage of the profits from this IPO, but in the problem, it will be transmitted to the selling shareholders.

IndiaMART-InterMESH-limited-IPO-source-elite-wealth
IndiaMART-InterMESH-limited-IPO-image-source-elitewealth.com

The IPO, scheduled to close this Wednesday, has equity shares of 48,87,862, including anchor share of 21,95,038 equity shares. The offer price range was set at Rs 970-973 per share. IndiaMart InterMesh raised from anchor investors on Friday more than Rs 213 crore.

IndiaMart’s Future Looks Promising:

Being an e-commerce business, investment is predominantly into a platform that is already being built, so the company thinks that the price of the business would not increase compared to revenues leading to profitability enhancement. Because of the share buyback obligation that is over, the company has a one-time cost of Rs 65 crores in FY19.

The offer is managed by ICICI Securities Ltd, Edelweiss Financial Services Ltd and Jefferies India Pvt Ltd. The BSE and the National Stock Exchange are proposing to list the shares.

More from Next Big Brand:

  • 50 percent subscribers of IndiaMart IPO on the first day, 2 more days to go

#IndiaMart #IndiaMartIPO #InterMesh

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Saurav Bhagat

Saurav Bhagat

Saurav Bhagat is an experienced digital marketer and SEO Trainer from New Delhi, India. Saurav is inclined towards brands and brand story-telling from the past half a decade. His interest in startups has made him an immense member of the NBB Family from its very early days. Saurav loves Chai and writes his day to day experiences on Quora and Yuvagasm Media too. He believes in the power of storytelling for a Brand and also in general. He often says- "Stories are powerful enough to build and erase empires and generations!"

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