Business Today
IndiaMart IPO fully subscribed on second day of bidding

The initial public offer of IndiaMart InterMESH, an online marketplace for business products and services, was fully subscribed on Tuesday, the second day of bidding.

IndiaMart IPO fully subscribed on second day of bidding

Price range for the offer was fixed at Rs 970-973 per share.

The initial public offer of IndiaMart InterMESH, an online marketplace for business products and services, was fully subscribed on Tuesday, the second day of bidding.

The IPO, which looks to raise about Rs 475 crore, received bids for 27,94,440 shares against the total issue size of 26,92,824 shares, translating into 1.04 times subscription, as per data available with the National Stock Exchange (NSE).

The category meant for qualified institutional buyers (QIBs) was subscribed 1.05 times, non institutional investors four percent, and retail individual investors 2.48 times. The IPO, which is scheduled to close Wednesday, is of 48,87,862 equity shares, including anchor portion of 21,95,038 equity shares.

Price range for the offer was fixed at Rs 970-973 per share. At the upper end of the price band, the offer is expected to raise about Rs 475 crore.

IndiaMart InterMesh raised more than Rs 213 crore from anchor investors on Friday. ICICI Securities Ltd, Edelweiss Financial Services Ltd and Jefferies India Pvt Ltd are managing the offer.

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

Rupee weakens to 69.40 against dollar

Sensex Today LIVE: Sensex rises over 70 points, Nifty above 11,800; Reliance Infra gains 10%

Get latest news & live updates on the go on your phone with our News App. Download The Business Today news app on your device
More from MARKETS