Matrimony.com IPO oversubscribed by 4.26 times

India Infoline News Service | Mumbai | September 13, 2017 18:18 IST

The online matchmaking and marriage services provider, Matrimony.com’s initial public offering (IPO) got oversubscribed by 4.26 times on Wednesday.

Matrimony.com
The online matchmaking and marriage services provider, Matrimony.com’s initial public offering (IPO) got oversubscribed by 4.26 times on Wednesday. The subscription for its IPO opened on Monday.
 
The issue has received total bids of 1,19,70,375 and the total bids received at Cut-off price stood at 74,58,405. The issue size stands at 28,11,280 shares and has got over-subscribed by 4.26 times as of 1745 hours on Wednesday.
 
The company is raising funds through this issue for advertising and business promotion activities, to purchase of land for construction of office premises in Chennai, for the repayment of overdraft facilities and for general corporate purposes.
 
The IPO consists of fresh issue of up to Rs 1,300 million and offers for sale up to 37,67,254 equity shares. The price band is fixed at Rs 983 to Rs 985 per equity share. The issue offers a discount of Rs 98 per share to retail and eligible employee category. The equity shares will have a face value of Rs 10 per share.
 
The minimum order quantity or one lot consists of 15 shares and in multiples thereof. Axis Capital Limited and ICICI Securities Limited are Book Running Lead Managers (BRLM) for the issue. 

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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