Infibeam Incorporation shares made a robust debut on Monday on bourses at a list price of Rs 458, up 6 per cent, against the issue price of Rs 432.
At 10.15 am, shares of Infibeam were trading at Rs 452.90, up 4.84 per cent, against the issue price. Later, the scrip closed at Rs 445.70.
The company became the first listed e-commerce player in the India. The IPO of Infibeam, which opened from March 21-23, was subscribed 1.11 times at a price band of Rs 360-432 per share.
Started in 2007, Infibeam runs several e-commerce services like Infibeam.com, BuildaBazaar, Incept and Picsquare. The company has plans to utilise 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.
For the financial year ended March 2012, 2013, 2014, 2015 and in the six months ended September 30, 2015, revenue from operations of Infibeam stood at Rs 127.88 crore, Rs 151.15 crore, Rs 207.34 crore, Rs 288.28 crore and Rs 171.27 crore, respectively.
The company’s revenue from operations increased at a CAGR of 31.12 per cent between 2011-12 and 2014-15. Infibeam losses after tax for financial years ended March 2012, 2013, 2014 and 2015 were Rs 10.83 crore, Rs 24.91 crore, Rs 25.95 crore and Rs 9.79 crore, respectively, while profit after tax in the six months ended September 30, 2015 was Rs 6.58 crore.