Infibeam to List Shares on Monday

Infibeam to List Shares on Monday
New Delhi: Infibeam Incorporation, which raised Rs 450 crore through its initial public offer (IPO), will make its stock market debut on Monday, becoming the first e-commerce player in the country to get listed.

The IPO, which was open from March 21 to 23, was subscribed 1.11 times at a price band of Rs 360-432 per share.

Among other categories, the portion set aside for non-institutional investors received 2.23 times subscriptions while that for retail investors was subscribed 1.31 times.

"...effective Monday, April 4, 2016, shares of Infibeam Incorporation shall be listed and admitted to dealings on the exchange in the list of 'B' Group of securities," the BSE said in a circular.

In another circular, the NSE said shares in the company will be listed on the exchange with effect from April 4.

Started in 2007, Infibeam runs several e-commerce services like, BuildaBazaar, Incept and Picsquare.

Infibeam plans to utilize the IPO proceeds towards setting up of a cloud data centre and shifting and setting up of registered and corporate office of the company.

In addition, the funds will be used for setting up of 75 logistics centres, purchase of software and other general corporate purposes.
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