New Delhi:, which runs online match making business under the BharatMatrimony brand, will launch its initial public offer on September 11 and has fixed a price band of Rs 983–985 to raise over Rs 500 crore.

The issue comprises fresh issue of up to Rs 130 crore and an offer for sale (OFS) of up to 37,67,254 shares.

The OFS consists of up to 14,61,006 shares by Bessemer India Capital Holdings II Ltd, 1,55,760 by Mayfield XII, Mauritius, 16,83,207 by CMDB II, 3,84,447 by Murugavel Janakiraman and 82,834 by Indrani Janakiraman, a company statement said.

The IPO is due to open on September 11 and close on September 13.

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

Axis Capital and ICICI Securities are the book running lead managers to the offer. The registrar to the offer is Karvy Computershare Private Ltd. The shares of are proposed to be listed on the BSE and the National Stock Exchange of India.

So far in 2017, a total of 17 companies, including BSE, Avenue Supermarts, Housing and Urban Development Corporation (HUDCO), Eris Lifesciences and Cochin Shipyard, mopped up more than Rs 12,000 crore through initial share sale offers.

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Free Press Journal