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IndiaMart IPO To Open On 24 June

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On Wednesday, IndiaMART InterMESH Ltd, the operator of Indiamart.com, one of the largest online b2b platforms for small and medium businesses in India, said the it will launch its initial public offering (IPO) on 24 June.

A total of 4.28 million shares will be offered at a price band of Rs 970-973 apiece between 24 and 26 June. At the upper end, the IndiaMart IPO is worth Rs 475.5 crore.

IndiaMart IPO To Open On 24 June
 

Three of the company's private equity and venture capital investors will make part exits. 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 equity shares are proposed to be listed on BSE and NSE. ICICI Securities, Edelweiss Financial Services and Jefferies will manage the IndiaMart IPO.

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.

In April, Dinesh Agarwal, co-founder and CEO of the company told PTI that it expects to maintain CAGR (compounded annual growth rate) at 29 percent for the current and the next financial year.

GoodReturns.in

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