21 Jul 2019 | 11:33 PM

News

IPO
IndiaMART InterMESH announces launch of initial public offering
Published on 06-19-2019
IndiaMART InterMESH Ltd. has announced public offering of 4887862 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 963.00 per share. The gross proceeds of the issue are expected to be Rs 47558.90 lakhs.


The company`s initial public offer (IPO) will open on 24 June 2019 and is expected to close on 24 June 2019 subject to customary closing conditions. The price band of the issue has been fixed at Rs 970.00-973.00 per share.


The IPO includes a fresh Issue of 4887862 Equity Shares of the Company at an price of Rs 973.00 per Equity Share. The company has fixed the minimum bid lot for the issue at shares with bids in multiples of .


IndiaMART InterMESH Ltd. anticipates using the proceeds of the issue for Strong network effects and brand recognition driving leadership in the BB marketplace in India Comprehensive convenient and reliable platforms for buyers Efficient and effective marketing platform for suppliers Deep understanding of online trade and commerce in India that drives innovative solutions Robust mobile platform Experienced management team and large sales and service representatives team with proven track record of performance.


Jefferies India Pvt. Ltd.ICICI Securities LimitedEdelweiss Financial Services Ltd as lead manager(s) & Link Intime India Pvt. Ltd. is the registrar to the issue.