IndiaMART InterMESH's IPO or initial public offer was subscribed more than 36 times on Wednesday, its final day of issue. Delhi-based IndiaMart InterMESH is an online marketplace and business-to-business (B2B) classifieds platform. The IndiaMART InterMESH IPO opened for subscription on Monday, and closed on Wednesday, June 26. The Rs 476-crore IPO of IndiaMart InterMESH comprised an offer for sale (OFS) by promoters, which means the company will not get any proceeds from public issue. After the issue, the promoters' holding will be reduced to 53 per cent from 58 per cent.
Here are key things to know about the IndiaMART InterMESH IPO:
IndiaMART InterMESH subscription status
As of 9:00 pm on Wednesday, the IndiaMART InterMESH IPO received 9,74,96,700 bids against the total issue size of 26,92,824, marking a subscription of 36.21 times, data from the National Stock Exchange (NSE) showed.
IndiaMART InterMESH company profile
IndiaMART InterMESH enables the discovery of products across around 50 industry categories, offers lead-generation services to sellers listed on its platform and earns revenue through subscription fee.
IndiaMART InterMESH IPO issue size
IndiaMart sold equity shares of face value of Rs 10 each in the price band of Rs 970-973 apiece between June 24 and June 26.
IndiaMART InterMESH valuation
At the upper band of the price band, the company is valued at Rs 476 crore.