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Business News/ Markets / Ipo/  IndiaMart's 475 crore IPO opens on 24 June
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IndiaMart's ₹475 crore IPO opens on 24 June

IndiaMart will become the first company to test the IPO market in Modi government’s second tenure
  • The proposed initial share sale offering will close on 26 June
  • Dinesh Agarwal, founder and CEO, IndiaMart.Premium
    Dinesh Agarwal, founder and CEO, IndiaMart.

    Mumbai: IndiaMart InterMESH Ltd, which operates Indiamart.com, one of the largest online listing platforms for small and medium businesses in India, today said that it will launch its initial public offering (IPO) on 24 June. The company has priced its shares in the range of 970-973 apiece.

    The proposed initial share sale offering will close on 26 June. The IPO will see the company and its existing investors sell a total of 4.88 million shares.

    At the upper end of the price band, the IPO is worth Rs475.5 crore.

    Existing investors selling shares through the IPO include venture capital investors Intel Capital, Amadeus Capital Partners and Quona Capital.

    Intel Capital is selling shares worth Rs252 crore.

    With its plans to go public, IndiaMart will become the first company to test the IPO market in Modi government’s second tenure.

    ICICI Securities, Edelweiss Financial Services and Jefferies are managing the IndiaMart initial share sale.

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    ABOUT THE AUTHOR
    Swaraj Singh Dhanjal
    " Based in Mumbai, Swaraj Singh Dhanjal is responsible for Mint’s corporate news coverage. For the past eight years he has been writing on the biggest deals in private equity, venture capital, IPO market and corporate mergers and acquisitions. An engineer and an MBA, he started his journalism career in 2014 with Mint. "
    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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    Published: 19 Jun 2019, 09:37 AM IST
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