You are using an older browser version. Please use a supported version for the best MSN experience. IPO price band set at Rs983–985, to raise Rs 500 crore

LiveMint logoLiveMint 04-09-2017 PTI

New Delhi:, which runs online match making business under the BharatMatrimony brand, will launch its initial public offer (IPO) on 11 September and has fixed a price band of Rs983–985 to raise over Rs500 crore.

The issue comprises fresh issue of up to Rs130 crore and an offer for sale (OFS) of up to 37,67,254 shares. The OFS consists of up to 14,61,006 shares by Bessemer India Capital Holdings II Ltd, 1,55,760 by Mayfield XII, Mauritius, 16,83,207 by CMDB II, 3,84,447 by Murugavel Janakiraman and 82,834 by Indrani Janakiraman, a company statement said.

The IPO is due to open on 11 September and close on 13 September.

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, it added.

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

The shares of are proposed to be listed on the BSE and the National Stock Exchange (NSE).

So far in 2017, a total of 17 companies, including BSE, Avenue Supermarts, Housing and Urban Development Corporation (HUDCO), Eris Lifesciences and Cochin Shipyard, mopped up more than Rs12,000 crore through IPOs.

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