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Matrimony.com IPO oversubscribed 4.22 times

Press Trust of India/New Delhi 13 Sep 17 | 08:01 PM

The initial public offer (IPO) of Matrimony.Com, which runs online match-making portals, has been oversubscribed 4.22 times so far on the last day of the bidding on Wednesday.

The IPO received bids for 1,18,54,905 shares against the total issue size of 28,11,280 shares, data available with the NSE till 1730 hrs showed.

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The company had on Friday raised nearly Rs 226 crore from anchor investors.

The price band is Rs 983-985 per share for the IPO.

It comprises fresh issue aggregating up to Rs 130 crore and an offer for sale of up to 37.67 lakh equity shares.

Matrimony.Com, which runs online match-making business under BharatMatrimony brand is expected to raise over Rs 500 crore.

Net proceeds from the issue will be utilised towards advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes.

Axis Capital and ICICI Securities are the book running lead managers to the offer. The registrar to the offer is Karvy Computershare Private Ltd.

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