IndiaMart IPO opens, to raise over Rs 474 crore: All you need to know

IndiaMart IPO opens, to raise over Rs 474 crore: All you need to know

IndiaMart InterMesh, which operates IndiaMart.com - an online B2B market place for buyers to connect with suppliers, has opened its IPO today with an aim of raising nearly Rs 475 crore through the sale of 48,87,862 equity shares. The IPO would be open till June 26.

FPJ Web DeskUpdated: Monday, June 24, 2019, 01:15 PM IST
article-image

IndiaMart InterMesh, which operates IndiaMart.com - an online B2B market place for buyers to connect with suppliers, has opened its IPO today with an aim of raising nearly Rs 475 crore through the sale of 48,87,862 equity shares. The IPO would be open till June 26.

The price band for shares is kept from Rs 970 - Rs 973 with a face value of Rs 10 each. The minimum allotment bid is kept at a lot of 15 shares and in multiple of 15 thereafter. Notably, IndiaMart raised Rs 213 crore from 15 anchor investors by allocating 21,95,038 equity shares at a price of Rs 973.

Promoter Dinesh Chandra Agarwal has offered 8,52,453 equity shares and Brijesh Kumar Agrawal 5,77,656 equity shares. Existing investors like Intel Capital (Mauritius) has put up to 20,76,190 equity shares for sale in the offer, Amadeus 1,70,502 equity shares, Amadeus IV DPF limited 2,55,753 shares, Accion Frontier Inclusion Mauritius 4,75,000.

As per IndiaMart's offer document, 10% of the net offer, or 487,786 equity shares, is available for allocation to retail individual investors. Under the retail category, investors can invest up to Rs 2 lakh in IndiaMart IPO.

The equity shares of IndiaMart will be listed on the BSE as well as NSE. IndiaMart will become the first company to test the IPO market in Modi government’s second tenure.

IndiaMart had 59.81 million registered buyers and had 4.72 million supplier storefronts in India, with 50.13 million products listings - 75 percent of which comprises goods and rest 25 percent services as of March 31, 2018. It registered a net profit of Rs 20 crore in the FY19 along with a 29 percent CAGR over the term of 5 years from FY 2014-19, according to a note from Angel Broking.

With Inputs from livemint

RECENT STORIES

Zoop's Train Adventures: School Summer Holidays With IRCTC Food Order

Zoop's Train Adventures: School Summer Holidays With IRCTC Food Order

Jeep Unveils 2024 Wrangler Unlimited & Rubicon: Rs 67.65 Lakh Starting Price

Jeep Unveils 2024 Wrangler Unlimited & Rubicon: Rs 67.65 Lakh Starting Price

'Banks Se Tech Nahi Ho Rahi...': Ashneer Grover Takes A Jibe At India's Banking & Tech Scene

'Banks Se Tech Nahi Ho Rahi...': Ashneer Grover Takes A Jibe At India's Banking & Tech Scene

Jeep, Citroen to Raise Prices in India from April 30

Jeep, Citroen to Raise Prices in India from April 30

₹53,350 Crore Takeover: IBM Acquires Cloud Software Provider HashiCorp

₹53,350 Crore Takeover: IBM Acquires Cloud Software Provider HashiCorp