News Details
Category : IPO
Headline : IndiaMART InterMESH Ltd. debuts with 21.27% premium at Rs 1,180.00
Date: 04/07/2019 21:50
IndiaMART InterMESH Ltd. makes a strong debut on the bourses with scrip got listed at Rs 1,180.00 on the Bombay Stock Exchange, a 21.27 per cent premium to its issue price of Rs 973.00. On the National Stock Exchange, the stock was listed at Rs 1,180.00.

The company, which raised 0.49 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 48.88 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Jun 24 to Jun 26.

Following a strong opening, the scrip touched an intraday high of Rs 1,339.00 and a low of Rs 1,180.00, before closing the session up by 33.86 per cent to its listing price at Rs 1,302.55 on the BSE.

The company anticipates using the proceeds of the issue for Strong network effects and brand recognition, driving leadership in the BB marketplace in India, Comprehensive, convenient and reliable platforms for buyers, Efficient and effective marketing platform for suppliers, Deep understanding of online trade and commerce in India that drives innovative solutions, Robust mobile platform, Experienced management team and large sales and service representatives team with proven track record of performance.

Jefferies India Pvt. Ltd.,ICICI Securities Limited,Edelweiss Financial Services Ltd as lead managers & Link Intime India Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 39,908.06, up 68.81 points, or 0.17 per cent.