IndiaMART IPO subscribed 3.22 times on the last day

The issue received bids for 86,62,335 shares against the total issue size of 26,92,824.

Jun 26, 2019 10:06 IST India Infoline News Service

Initial Public Offer, IPO
IndiaMart InterMesh Limited (“Company”) was subscribed 3.22 times on the last day of the bidding process on Wednesday. The issue received bids for 86,62,335 shares against the total issue size of 26,92,824.

On day 2, the offering was subscribed 104%. The portion of the share sale reserved for institutional investors was subscribed 104%, while that reserved for retail and HNI investors was subscribed 248% and 4%, according to data from stock exchanges.

ICICI Securities Limited, Edelweiss Financial Services Limited and Jefferies India Private Limited are the Book Running Lead Manager (“BRLMs”) to the Offer.

The equity shares of IndiaMart InterMesh Limited are proposed to be listed on BSE and the NSE.

The company will not receive any proceeds from the Offer and the entire proceeds from the Offer will go to the Selling Shareholders, in proportion to the Equity Shares offered and sold by the respective Selling Shareholder in the Offer for Sale.

The company has raised Rs213cr by allotting 21,95,038 equity shares to 15 anchor investors, including ICICI Mutual Fund, HDFC Mutual Fund and SBI Mutual Fund, at the upper limit of the price band Rs970-973.

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