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Matrimony.com files draft IPO papers with Sebi a second time

LiveMint logoLiveMint 08-05-2017 Swaraj Singh Dhanjal

Mumbai: Matrimony.com Ltd, which operates matchmaking website Matrimony.com, on Monday filed a draft red herring prospectus with the markets regulator for its proposed initial public offering (IPO).

This is Matrimony.com’s second attempt to tap the primary markets after it had previously filed its draft IPO prospectus in August 2015. The company was, however, unable to launch its initial share sale and allowed the approval to lapse.

The latest attempt consists of a fresh issue of shares aggregating up to Rs130 crore and an offer for sale of up to 3.7 million shares.

The offer for sale will see Matrimony’s investor Bessemer Venture Partners make a complete exit from the company, while Mayfield will sell part of its stake.

Matrimony will use proceeds from the share sale for advertising and business promotion activities, purchase of land for construction of office premises in Chennai, and repayment of overdraft facilities.

Axis Capital Ltd and ICICI Securities Ltd have been hired to manage the share sale.

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