Left Menu
Development News Edition

IndiaMART IPO subscribed over 36 times on final day of bidding

PTI | New Delhi | Updated: 26-06-2019 19:30 IST | Created: 26-06-2019 19:28 IST
IndiaMART IPO subscribed over 36 times on final day of bidding
The qualified institutional buyers' book was subscribed close to 30.83 times, non-institutional investors 62.12 times and retail individual investors 13.37 times. Image Credit: Twitter (@IndiaMART)

The initial public offering of IndiaMART InterMESH, an online marketplace for business products and services, was subscribed 36.16 times on the final day of bidding Wednesday. The Rs 475-crore IPO received bids for 9,73,85,775 shares against the total issue size of 26,92,824 shares, according to the NSE data till 1900 hours.

The qualified institutional buyers' book was subscribed close to 30.83 times, non-institutional investors 62.12 times and retail individual investors 13.37 times, according to merchant banking sources. The initial public offering (IPO) is for 48,87,862 equity shares, including anchor portion of 21,95,038 equity shares.

The price range for the offer, which opened for bidding on Monday, was Rs 970-973 per share. Dinesh Agarwal, founder and managing director, IndiaMART InterMESH, said, "We are confident that together, we will deliver value for all stakeholders in the times to come and will continue to look forward to our increasing contribution towards the growth of the Indian economy and employment by use of technology."

IndiaMART InterMESH had raised more than Rs 213 crore from anchor investors on Friday. ICICI Securities Ltd, Edelweiss Financial Services Ltd and Jefferies India Pvt Ltd were the managers to the offer.

The shares of the company are proposed to be listed on the BSE and the National Stock Exchange.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION / BLOG / INTERVIEW

Aviation post-COVID 19: Hard time ahead of getting people back on planes

The sweeping travel restrictions have largely brought international travel to a halt and domestic travel is also facing a huge number of cancellations as billions of people are ordered to stay inside their homes as part of strict lock-downs...

All party meeting - Blocking dialogue not culture of Bengal, Mamata needs to speak up

If that happens, history will record it as the dark age of Bengal....

Videos

Latest News

Tennis-Serena's coach says 'revolting' that players can't make a living

Serena Williams coach Patrick Mouratoglou has called on tennis governing bodies to come together and devise a way of helping lower level professionals struggling financially due to the coronavirus shutdown. The tennis season was halted in e...

Readout of Fed's March meetings to capture a frenzied policy response

U.S. Federal Reserve officials launched an economic rescue plan in record time last month as the coronavirus pandemic spread, reaching decisions that may shape the global economy for decades to come in the space of a few frantic weeks.On We...

Diamond prices slides in March as COVID-19 spreads

Mumbai Maharashtra India, April 8 ANI BusinessWire India Diamond prices fell in March as the spreading coronavirus led to a dramatic decline in the global economy. Diamond markets are under pressure and facing a severe liquidity crisis as j...

Iran doesn't agree with OPEC+ meet without clear outcome - minister

Iran does not agree with holding any OPEC meeting in the absence of a clear proposal and expected outcome from such talks for the oil market, its oil minister said in a letter to OPEC and seen by Reuters. The vague circumstances around whic...

Give Feedback