Delhi-based IndiaMart InterMesh, a business-to-business (B2B) platform, is offering shares to the public through its Initial Public Offer (IPO), which opened for subscription on Monday, 24 June, according to media reports.
The issue, which is worth Rs 476 crore approximately, will close on 26 June.
IndiaMart IPO Lot Size
Equity shares with face value of Rs 10 each in the price range of Rs. 970-973 per share are listed for sale between 24 and 26 June, a LiveMint report said, adding that the issue consists of sale of up to 48,87,862 equity shares.
According to the report, investors can bid for shares in the lot size of 15 shares and none of the proceeds raised from the issue will go to IndiaMart. The company is reportedly valued at Rs 476 crore, as per the IPO size at the upper band of the price band.
A total of over 14,30,000 shares are reportedly being by sold by IndiaMart promoters Dinesh Chandra Agarwal and Brijesh Kumar Agrawal, and their holding will fall to 53 percent from the existing 58 percent, upon completion of the IPO process.
IndiaMart Financials
IndiaMart, which provides lead-generation services to sellers on its platform, earns revenue primarily through the sale of subscription packages to suppliers. The company also earns revenue through advertising.
IndiaMart reported a net profit of Rs 20 crore in FY19, the LiveMint report said, citing a note from Angel Broking.
In addition, the company’s paid subscription suppliers increased at a CAGR of 21 percent over FY2016-19 to 1,30,000, the note cited above, said.
IndiaMart has 2,915 employees located across 72 offices in the country.
The existing investors of IndiaMART include Intel Capital, Amadeus Capital, WestBridge Capital & Quona Capital and Accion Frontier Inclusion Mauritius.
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