IndiaMart IPO Fully Subscribed On Day 2 Of Bidding
IndiaMart IPO is offering shares in a price band of Rs 970-973 per share, at the upper end of which the offer is expected to raise about Rs 475 crore. (Photographer: Dhiraj Singh/Bloomberg)

IndiaMart IPO Fully Subscribed On Day 2 Of Bidding

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The initial public offering of IndiaMart InterMesh, an online marketplace for business products and services, was fully subscribed on Day 2 of bidding.

The IndiaMart IPO, which seeks to raise about Rs 475 crore, received bids for 27.94 lakh shares against the total issue size of 26.92 lakh shares, translating into 1.04 times subscription, according to data available with the National Stock Exchange.

The category meant for qualified institutional buyers was subscribed 1.05 times, and non-institutional investors 4 percent. Shares earmarked for retail individual investors were subscribed 2.48 times.

Price band for the IndiaMart IPO, which is scheduled to close Wednesday, was fixed at Rs 970-973 per share, at the upper end of which the offer is expected to raise about Rs 475 crore.

IndiaMart InterMesh raised more than Rs 213 crore from anchor investors on Friday.

ICICI Securities Ltd., Edelweiss Financial Services Ltd. and Jefferies India Pvt Ltd. are managing the IndiaMart IPO.

The shares are proposed to be listed on the BSE and the National Stock Exchange.

Also read: IndiaMart InterMesh IPO: Here’s All You Need To Know

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