Economy

Matrimony IPO oversubscribed 441% on last day

Matrimony IPO oversubscribed 441% on last day”

Retail investors bid for almost 17.98 times or 91.67 lakh shares of the 5.09 lakh shares reserved. NSE data shows that the portion of the issue set aside for non-institutional investors, like corporates and high-net-worth individuals, was subscribed 41%, as per data.

Capacit'e Infraprojects has priced its shares in a band of Rs245-250 for the IPO.

The initial share sale offering of construction firm Capacite Infraprojects was oversubscribed 4.62 times on the second day of bidding today.

Till Wednesday, the IPO was subscribed 1.36 times and received bids for 38,21,220 shares against the total issue size of 28,11,280 shares. The Rs400 crore IPO will see the company dilute a 24% stake.

Ahead of the IPO, the IPO committee of the board of directors of Matrimony.com on 8 September 2017, finalised allocation of 22.93 lakh shares to 10 anchor investors at Rs 985 per share aggregating to Rs 225.88 crore.

The company has posted losses of Rs 1.67 crore in FY 11, Rs 3.79 crore in FY12, Rs 9.16 crore in FY14 and Rs 2.93 crore in FY15. Karvy Computers is now serving as the chief registrar while ICICI Securities and Axis Bank are acting as the book running lead managers for the issue.

Proceeds of the issue will be utilised for funding working capital requirements, purchasing of capital assets and general corporate purposes. Majority of the company's revenues came from its match making services (Rs 231.99 crore) followed by marriage services (Rs 7.35 crore) and sale of products (Rs 2.07 crore). The company mentions that the losses in fiscal 2014 and 2015 resulted from the impact of exceptional expenses incurred in defending Matrimony, its promoter and certain investors in connection with the Desai et al. v. Infonauts, Inc., et.al litigation.

Matrimony.com is the leading provider of online matchmaking services in India in terms of the average number of website pages viewed by unique visitors in June 2017.



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