IndiaMART InterMESH IPO subscribed 50% on the first day

The initial public offer of IndiaMART InterMESH was subscrobed 50 percent on the first day of the offer on June 24.

The issue has received bids for 13,57,365 equity shares against IPO size of 26,92,824 shares (excluding anchor book portion), as per data available on NSE website.

The reserved category of qualified institutional buyers has received 76 percent subscription and the retail book has been subscribed 49 percent. There is no major response to non-institutional investors book.

The Rs 475-crore IPO of IndiaMART InterMESH, the largest online B2B marketplace for business products and services will close on June 26. It has fixed a price band at Rs 970-973 per share.

It is an offer for sale of 48,87,862 shares by its promoters and investors, so the company will not get any proceeds from public issue.

The company has already raised more than Rs 213 crore from 15 anchor investors.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.

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Written by wcrcleaders

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