Bharat Matrimony app, operated by Matrimony.com Ltd. on App Store seen on an iPhone in this arranged photograph in Mumbai, India. (Photographer: Anirudh Saligrama/BloombergQuint)

Matrimony.com IPO Subscribed 4.41 Times On Final Day

Summary

Final Subscription

  • Qualified institutional buyers: 1.88 times
  • Non-institutional investors: 0.41 times
  • Retail investors: 17.99 times
  • Overall: 4.41 times

Matrimony.com Ltd.’s Rs 501-crore initial public offering was subscribed 4.41 times on the third and final day of the bidding on Wednesday.

The IPO of the matchmaking and marriage services company received bids for 1.23 crore shares against the total issue size of 28.08 lakh shares as of 7:00 p.m, according to data shared by Axis Capital, one of the lead bankers.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 1.88 times while the non-institutional investors segment was subscribed 0.41 times. The retail portion received highest number bids at 17.99 times the number of shares on offer.

Ahead of the IPO, the company had raised funds of Rs 225.88 crore from ten anchor investors at the upper end of the price band which has been set at Rs 983-985.

The offer which closes on Wednesday, is a combination of fresh issue and offer for sale. Promoters Murugavel Janakiraman and Indrani Janakiraman, and three investors are looking to sell 37.7 lakh equity shares, or Rs 371 crore at the upper end of the price band, while 13.2 lakh equity shares worth Rs 130 crore will be in the form of fresh issuance.

Also Read: Matrimony.com IPO: Here’s All You Need To Know

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