The price band for the IndiaMart IPO, which aims to raise up to Rs 475 crore, has been set at Rs 970-973 per share. (Source: BloombergQuint) 

IndiaMart IPO Subscribed 36.21 Times On Last Day Of Bidding

The initial public offering of IndiaMart InterMesh Ltd., an online marketplace for business products and services, was subscribed 36.21 times on Wednesday, the last day of bidding.

The IndiaMart IPO, which aims to raised Rs 475 crore, received bids for 9.74 crore shares against the total issue size of 26.9 lakh shares, according to data available with the National Stock Exchange till 9 pm.

It received 51 percent subscription on Day 1 and was fully subscribed on Day 2.

The IndiaMart IPO saw fresh issuance of 48,87,862 equity shares, including an anchor portion of 21,95,038 equity shares. It had raised more than Rs 213 crore from anchor investors on Friday.

Shares in the IndiaMart IPO, which opend for bidding on Monday, were issued in a price band of Rs 970-973 per share, at the upper end of which the e-commerce firm seeks to raise up to Rs 475 crore.

ICICI Securities Ltd, Edelweiss Financial Services Ltd and Jefferies India Pvt Ltd are managing the offer. IndiaMart shares are proposed to be listed on the BSE and the National Stock Exchange.

(Updated to correct the total issue size)

Bloomberg Quint

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