Capacit’e IPO subscribed 1.32 times; Matrimony.com sails through
Capacit’e Infraprojects’ Rs400 crore IPO received bids for 14,815,320 shares against the total issue size of 11,428,572 shares
Mumbai: The initial public offering (IPO) of Matrimony.com, which runs online match-maker BharatMatrimony.com, was subscribed 4.41 times on the final day of the sale on Wednesday.
Also, Capacit’e Infraprojects Ltd, a Mumbai-based construction firm, which launched its initial share sale on Wednesday, saw its offering subscribed 1.32 times at the end of the first day of the sale.
According to stock exchange data at 7pm, the portion of Matrimony.com’s shares reserved for institutional investors was subscribed 1.88 times, while that reserved for non-institutional and retail investors saw subscriptions of 41% and 17.99 times, respectively.
The firm priced shares in the range of Rs983-985 per share.
The Rs500 crore IPO comprises a fresh issue of shares aggregating up to Rs130 crore and an offer for sale of up to 3.7 million shares. The offer for sale will see Matrimony’s investor Bessemer Venture Partners make a complete exit from the company, while venture capital firm Mayfield will sell part of its stake.
Matrimony.com will use proceeds from the share sale for advertising and business promotion, purchase of land for construction of an office in Chennai, and repayment of overdraft facilities.
Meanwhile, exchange data showed that the portion of Capacit’e Infraprojects shares reserved for institutional and retail investors were subscribed 1.77 times and 1.58 times, respectively. The portion of shares reserved for non-institutional investors was subscribed only 11%.
Capacit’e Infraprojects has priced its shares in a band of Rs245-250 for the IPO. The Rs400 crore IPO will see the company dilute 24% stake. The share sale will close on 15 September.
The company plans to use the funds for working capital requirements, purchasing capital assets and general corporate purposes.