For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

IndiaMart Makes Strong Market Debut; Jumps 25% Over IPO Price

|

On Thursday, IndiaMart InterMesh Ltd made a strong debut at the stock market, listing at a premium over its issue price.

The scrip opened around 21 percent higher on NSE at Rs 1,180 apiece when compared to its issue price of Rs 973. These shares jumped around 25 percent to touch an high of Rs 1,338.

IndiaMart Makes Strong Market Debut; Jumps 25% Over IPO Price
 

The initial public offering (IPO) of IndiaMart, which was open between 24 to 26 June was subcribed over 36 times. The OFS (offer for sale) was made at a price range of Rs 907-973/share.

A total of 4.28 million shares were offered by the company's promoters and three of its private equity and venture capital investors, that made part exits. The book running lead managers to the IPO were ICICI Securities Limited, Edelweiss Financial Services Limited and Jefferies India Private Limited.

The company primarily operates through its product and supplier discovery marketplace, indiamart.com.

IndiaMart is a B2B market place for business products and services for manufacturers, wholesalers, exporters or retailers. As of 31 March 2019, the company had 82.70 million registered buyers and 5.55 million supplier storefronts in India that listed 60.73 million products.

Read more about: ipo indiamart
Story first published: Thursday, July 4, 2019, 10:51 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more