Tuesday, 12 September 2017

Matrimony.com IPO subscribed by 86%

The online matchmaking and marriage services provider, Matrimony.com’s initial public offering (IPO) is open for subscription and shall close on Wednesday. The issue has received total bids of 24,31,440 and the total bids received at Cut-off price stood at 9,55,920. The issue has got subscribed by 86% as of 1200 hours on Tuesday.
The company is raising funds through this issue for advertising and business promotion activities, to purchase of land for construction of office premises in Chennai, for the repayment of overdraft facilities and for general corporate purposes.
 The IPO consists of fresh issue of up to Rs 1,300 million and offers for sale up to 37,67,254 equity shares. The price band is fixed at Rs 983 to Rs 985 per equity share. The issue offers a discount of Rs 98 per share to retail and eligible employee category. The equity shares will have a face value of Rs 10 per share.

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