- IndiaMart raised more than Rs. 213 crore before the IPO.
- IPO to open on June 24 and closes on June 26.
IndiaMart InterMesh has raised more than Rs. 213 crore from 15 anchor investors by allowing 21,95,038 equity shares at a price of Rs. 973, the upper band of its IPO that opens on June 24.
It is an online market place for business products and services.
These 15 anchor investors consist of SBI Mutual Fund, Birla Mutual Fund, Hornbill Captial Advisors LLP, HDFC Mutual Fund, ICICI Mutual Fund.
On Wednesday, IndiaMart said, It will launch its initial public offering (IPO) from June 24 has fixed a price band of Rs. 970-973 per share.
The Initial Public Offering (IPO) is up to 48,87,862 equity shares, according to a statement issued by the company.
14,30,109 shares of promoters Dinesh Chandra Agarwal and Brijesh Kumar Agarwal will be sold through the issue, while Intel Capital (Mauritius), Amadeus IV DPF and Accion Frontier Inclusion Mauritius the investors in IndiaMart will offload 33,20,753 shares and 1,37,000 shares by other sharing shareholders.
The offer is expected to raise about Rs. 475 crore in the upper end of the price band. The issue will open on June 24 and would close on June 26.
IndiaMart
The business-to-business (B2B) company, which is in the process of getting listed, posted revenue of Rs 429 crore in 2017-18 and operating profit of Rs 46 crore.
Started in 1996 by Dinesh and Brijesh Agrawal, IndiaMart Intermesh Ltd, is an Indian e-commerce company that provides Business-to-customer, business-to-business and customer to customer sales services via its web portal.
IPO
Initial Public Offering (IPO) is the process of offering shares of a private corporation to the public in a new stock issuance. It allows a company to raise capital from public investors. The transition from a private to a public company can be an important time for the private investors to fully realize gains from their investment as it typically includes share premiums for current private investors. Meanwhile, it also allows public investors to participate in the offering.
#IndiamartIPO #IPO
