Matrimony.Com Raises Rs 226 cr From Anchor Investors

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Matrimony.Com, which runs online match-making portals, on Friday raised nearly Rs 226 crore from anchor investors ahead of its initial share sale opening next week.

Little over 22.93 lakh shares would be allotted to 10 anchor investors, including Goldman Sachs, Small Cap World Funds, HDFC Trustee Company and Baring Private Equity India AIF. ICICI Lombard IPO: Know The Details

These shares would be sold to anchor investors at Rs 985 apiece - the upper end of the IPO price band. The total proceeds would be around Rs 225.88 crore, according to a filing to the BSE.

Matrimony.Com Raises Rs 226 cr From Anchor Investors

The price band is Rs 983-985 per share for the share sale, which would be open from September 11-13. The allocation was finalized by the IPO Committee of the company's board of directors. IPO Alert: These Four IPO's To Hit The Market

The IPO comprises fresh issue aggregating up to Rs 130 crore and an offer for sale of up to 37.67 lakh equity shares.

Matrimony.Com, which runs online match-making business under BharatMatrimony brand, among others, is expected to raise over Rs 500 crore.

Net proceeds from the issue would be utilized towards advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes.

Axis Capital and ICICI Securities are the book running lead managers to the offer. The registrar to the offer is Karvy Computershare Private Ltd.

Read more about: anchor, investment
Story first published: Saturday, September 9, 2017, 12:27 [IST]
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