Matrimony.com Raises Rs 226 Crore From Anchor Investors
The three-day initial public offer of Matrimony.com opens on September 11.
Online matchmaking and marriage services provider Matrimony.com Ltd. on Friday raised Rs 225.88 crore from anchor investors ahead of its three-day initial public offer which opens on September 11.
The company allocated 22.93 lakh shares at Rs 985 a piece to ten anchor investors, according to a statement issued by the company. More than a third of the anchor allotment went to Smallcap World Fund Inc. Other investors included HDFC Prudence Fund, BNP Paribas Arbitrage and Goldman Sachs.
Shares were issued at the higher end of the IPO price band fixed at Rs 983 -985 per share.
Ahead of the launch of an IPO, shares are allotted to anchor investors - usually large foreign and domestic funds - to show backing for the offer by institutional investors.
Matrimony.com is looking to raise up to Rs 501 crore through an initial public offering, and the proceeds will be used for advertisements, purchasing assets, repaying debt and for general corporate purposes.
Through this public issue, promoters Murugavel Janakiraman and Indrani Janakiraman, and three investors are looking to sell 37.7 lakh shares worth Rs 371 crore at the upper end of the price band, while the fresh issue will comprise 13.2 lakh shares worth Rs 130 crore, the draft prospectus said.