Online marriage services provider Matrimony.com has received markets regulator Securities and Exchange Board of India’s (SEBI) approval to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue aggregating up to Rs 130 crore and an offer for sale of up to 3,767,254 equity shares. The company’s shares are proposed to be listed on the BSE and NSE.
The company, which filed the draft red herring prospectus with the SEBI in May, got the regulator’s approval on July 13. Proceeds of the fresh issue would be utilized for advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes. The lead managers for the issue are Axis Capital and ICICI Securities.
Matrimony.com, a signature internet conglomerate, manages Marquee brands such as BharatMatrimony.com and CommunityMatrimony.com. It is one of the fastest growing and profitable organizations in both the digital and offline space, with a reputation for innovation, technical excellence and entrepreneurship, with over 180 outlets in India and major operations in USA, UK, UAE & Canada.
| Company Name | CMP |
|---|---|
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| Info Edge | 1054.50 |
| Firstsource Solution | 239.25 |
| Affle 3i | 1468.10 |
| Hinduja Global Soln. | 426.90 |
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