You are using an older browser version. Please use a supported version for the best MSN experience. IPO subscribed 67% on Day 1

LiveMint logoLiveMint 11-09-2017 PTI

New Delhi: The initial public offer (IPO) of, which runs online matchmaking portals, was subscribed 67% on the first day of bidding on Monday.

The IPO, with an aim to raise over Rs500 crore, received bids for 1,878,510 shares against the total issue size of 2,811,280 shares, data available with the NSE showed. The portion set aside for qualified institutional buyers (QIBs) was subscribed 83% and while that for retail investors was subscribed 1.19 times. had on Friday raised nearly Rs226 crore from anchor investors.

The IPO comprises fresh issue of Rs130 crore and an offer for sale of up to 3.767 million equity shares at a price band of Rs983-985 per share. The share sale concludes on 13 September., which runs online matchmaking business under BharatMatrimony brand, among others, is expected to raise over Rs500 crore from the initial share sale. Net proceeds from the issue will be utilized 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 investment banks managing the IPO. The registrar to the offer is Karvy Computershare Private Ltd.

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