Shares of Matrimony.com, which runs online matchmaking portals, made a flat debut on the bourses today against its issue price of Rs 985. The scrip listed at Rs 985 on BSE.
It later tumbled 8.62 per cent to Rs 900. At NSE, shares of the company opened flat at Rs 985. In terms of trading volume, 5.91 lakh shares of the company were traded on BSE and over 25 lakh shares changed hands at NSE during the morning trade.
The Rs 500-crore IPO of the company was oversubscribed 4.44 times during September 11-13. The qualified institutional buyers (QIBs) portion was oversubscribed 1.88 times, non institutional investors 41 per cent and retail investors 18.16 times.
The price band was fixed at Rs 983-985 per share for the IPO. Matrimony.com runs online match-making business under BharatMatrimony brand.
Net proceeds from the issue will be utilised towards advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes.
Axis Capital and ICICI Securities were the book running lead managers to the offer. The registrar to the offer was Karvy Computershare Private Ltd
Like this press release? Submit yours here.