Dinesh Agarwal, founder and CEO, IndiaMart.
Dinesh Agarwal, founder and CEO, IndiaMart.

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

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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