IndiaMart raises ₹213 crore from anchor investors
1 min read 22 Jun 2019, 01:05 AM ISTThe issue will open on 24 June and would close on 26 JuneThe equity shares of IndiaMart InterMesh are proposed to be listed on the BSE and the National Stock Exchange
PremiumNEW DELHI : IndiaMart InterMesh, an online marketplace for business products and services, said Friday it has raised more than ₹213 crore from 15 anchor investors by allotting 21,95,038 equity shares at a price of ₹973, the upper band of its IPO that opens on June 24.
ICICI Mutual Fund, HDFC Mutual Fund, SBI Mutual Fund, Birla Mutual Fund, Hornbill Capital Advisers LLP are among the 15 anchor investors.
IndiaMart on Wednesday said it will launch its initial public offering from June 24 and has fixed a price band of ₹970–973 per share.
The initial public offering (IPO) is of up to 48,87,862 equity shares, according to a statement by the company.
Promoters Dinesh Chandra Agarwal and Brijesh Kumar Agrawal will sell 14,30,109 shares through the issue, while investors Intel Capital (Mauritius), Amadeus IV DPF and Accion Frontier Inclusion Mauritius will offload 33,20,753 shares and 1,37,000 equity shares by other selling shareholders, it added.
At the upper end of the price band, the offer is expected to raise about ₹475 crore.
The issue will open on June 24 and would close on June 26.
ICICI Securities, Edelweiss Financial Services and Jefferies India are the book running lead manager to the offer, it said.
The equity shares of IndiaMart InterMesh are proposed to be listed on the BSE and the National Stock Exchange.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
