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Online Platform Indiamart IPO subscribed 36 times

27Jun By AnkitaNo Comments

Market

Online Platform Indiamart IPO subscribed 36 times

27th June, 2019- The initial public offer of IndiaMART InterMESH, an online marketplace for business products and services, was subscribed 35.87 times so far on the final day of bidding on 26th June 2019. The Rs 475 crore IPO received bids for 9,65,97,705 shares against the total issue size of 26,92,824 shares, as per data available with the NSE till 16:45 hrs. The initial public offer (IPO) is of 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, has been fixed at Rs 970-973 per share. IndiaMart InterMesh had raised more than Rs 213 crore from anchor investors last week. ICICI Securities Ltd, Edelweiss Financial Services Ltd, a...

IndiaMart Successfully Plans An IPO: Offers Millions of Shares

4Jul By Gauri SinghNo Comments

Market

IndiaMart Successfully Plans An IPO: Offers Millions of Shares

Indian e-commerce company ‘IndiaMart’ has confirmed that it is going to issue an initial public offering (IPO) very soon. The company had filed its draft papers recently to SEBI (Securities and Exchange Board of India). The online company will start the process of IPO in the next financial year. It is a Noida-based company and will offer up to 4.28 million shares through its offer for sale. The promoters and investors will also sell a proportion of their stakes in the venture. “We will go for IPO soon. Basically, we are not in need to raise external money but we want to give an exit route to existing investors. Most of the equity sale will happen in secondary market,” said Dinesh Agarwal, Indiamart founder and CEO. According to the reports, the company’s investors will sell 2.07 Mn sh...

IndiaMart Files IPO To Raise Up To Rs 600 Crore

16Jun By Gauri SinghNo Comments

Market

IndiaMart Files IPO To Raise Up To Rs 600 Crore

One of the biggest online platforms in India named Indiamart.com will soon raise the company’s valuation to as much as Rs 600 crore through a proposed initial public offering (IPO). The company will soon file draft papers for its initial share sale which is expected to take place next month. According to the reports, investment banks ICICI Securities, Edelweiss Financial Services and a foreign investment bank are a group of advisors for the company in the matter of the initial share sale. “Indiamart is working on an IPO that could see it raise around ₹500-600 crore through a mix of primary and secondary share sale. Some of the investors of the company could sell part of their stakes. The final details of these are yet to be formalized,” stated a source. However, Dinesh Agarwal who is ...

We Started Procmart On Excel Sheet, Made The Website and Received Funding From Dinesh Agarwal (Indiamart)

5Feb By Sonia MotwaniNo Comments

Story

We Started Procmart On Excel Sheet, Made The Website and Received Funding From Dinesh Agarwal (Indiamart)

ProcMart which (made from PROCurement Market) was envisioned on the foundation of making B2B transactions or procurement smoother, reliable, and most importantly faster. It was started by Anish Popli, Pratik Potnis and Saheel Joshi in Pune to solve the problem of procurement and sourcing. Their team is a group of diverse people who have come together to address this issue of procurement and sourcing. Anish is an NIT Trichy graduate, and an IIM Lucknow alumnus. He worked for a couple of years in BHEL and Energo Engineering before starting up. Pratik on the other hand, is a computer science graduate and a serial entrepreneur. “I was with Cisco before starting my own venture Quexa systems. The venture was sold to a US-based company before beginning on ProcMart,” says Potnis. Saheel was a...