IndiaMart To Launch IPO In June

IndiaMART InterMESH Ltd, the operator of Indiamart.com, one of the largest online b2b platforms for small and medium businesses in India, is planning to launch its initial public offering (IPO) on 24 June, a Livemint report said.

According to its draft red herring prospectus on BSE, it would be making an offering of up to 4,288,801 equity shares of face value of Rs 10 each. The IPO will see three of its private equity and venture capital investors make part exits from the company. Its draft prospectus said that the IPO includes an OFS (offer for sale) of up to 2,076,190 shares by Intel Capital (Mauritius), upto 170,502 shares by Amadeus IV DPF Limited and upto 475,000 equity shares by Accion Frontier Inclusion (Mauritius).

As for the promoters, up to 852,453 equity shares are being offered by Dinesh Chandra Agarwal and up to 577,656 equity shares by Brijesh Agarwal. An additional 137,000 shares will be offered by other selling shareholders. The price band was not disclosed on the prospectus, however, its said that the equity shares are proposed to be listed on BSE and NSE.

Indiamart is a market place for buyers and sellers of various products and services to connect. As of 31 March 2018, the company had 59.81 million registered buyers and 4.72 million suppliers.