The company plans to spend the Rs 130 crore of fresh capital raised through this IPO for advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and for general corporate purposes.
Incorporated in 2001, Matrimony.com is the leading matchmaking service provider in India with a database of 3.08 million active profiles. Its flagship brand, BharatMatrimony, has 15 language based domains under its umbrella. According to the comScore report for June 2017, Matrimony.com is the leader in online matchmaking services in India in terms of the average number of website pages viewed by unique visitors, time spent and total pages viewed, said Angel Broking in a report.
"We are India's first pure-play consumer internet company to go for a listing," founder and Chief Executive Officer Murugavel Janakiraman said in an interview. "We provide an abundance of choice and thousands of matches to suit every criterion, all at the tap of a key."
Matrimony.com shares closed 8.72 per cent lower at Rs 899.10. (With agency inputs)
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