India Based Online Marketplace Indiamart Gets Permission to Launch IPO
Online marketplace IndiaMART InterMESH Ltd have received markets regulator Sebi's go-ahead to float initial share sale offers.
With this, the number of companies getting Sebi's approval to float an initial public offer (IPO) has reached 50 this year so far.
Indiamart which had filed draft their respective draft offer documents with Sebi in June, obtained the regulator's "observations" on September 14, according to the latest update with the markets watchdog.
Sebi's observations are necessary for any company to launch IPO, follow-on public offer and rights issue.
Through IndiaMART's public issue, a total of 42,88,801 equity shares will be divested by the promoters and private equity firms Intel Capital (Mauritius) Ltd, Amadeus Capital Partners and Accion Frontier Inclusion Mauri...