1. Matrimony.com IPO on last day subscribed 4.4 times

Matrimony.com IPO on last day subscribed 4.4 times

The initial public offer (IPO) of Matrimony.com, which runs online match-making portals, was subscribed by 4.4 times on Wednesday, the last day of the issue, with investors bidding for 1.23 crore shares of the 28.11 lakh shares on offer.

By: | Mumbai | Published: September 14, 2017 3:44 AM
Matrimony, Matrimony IPO, Matrimony ipo subscription, Matrimony ipo subscribed on last day High-net-worth individuals bid for 3.13 lakh shares of the 7.64 lakh shares reserved for them. Retail investors bid for nearly 17.98 times or 91.67 lakh shares of the 5.09 lakh shares reserved.

The initial public offer (IPO) of Matrimony.com, which runs online match-making portals, was subscribed by 4.4 times on Wednesday, the last day of the issue, with investors bidding for 1.23 crore shares of the 28.11 lakh shares on offer. The qualified institutional buyers bid for 1.88 times of the shares allotted to them. High-net-worth individuals bid for 3.13 lakh shares of the 7.64 lakh shares reserved for them. Retail investors bid for nearly 17.98 times or 91.67 lakh shares of the 5.09 lakh shares reserved. Matrimony.com has priced its IPO in a band of Rs 983-985. The issue comprised of a fresh issue worth Rs 130 crore and an offer for sale of 37.67 lakh shares.

The company plans to use the proceeds of the fresh issue for advertising and business promotion activities, purchase of land for construction of office premises, repayment of over draft facilities and general corporate purposes. The company will not receive any proceeds from the offer for sale.

The company is engaged in matchmaking services and marriage services. The company delivers matchmaking services to its users in India and the Indian diaspora through their websites, mobile sites, and mobile apps. The company had 7.02 lakh paid subscriptions during the financial year 2017.

The company posted a net profit of Rs 14.6 crore for the three-month ended June 30, 2017, against Rs 9.5 crore during the same period a year before. In 2017, companies raised Rs 16,254 crore through IPOs.

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