Matrimony.Com to debut on bourses tomorrow

Matrimony.Com, which runs online match-making portals, will list its shares on the bourses tomorrow after concluding its initial public offer (IPO) last week.

The Rs 500 crore IPO was oversubscribed 4.44 times during September 11-13.

The qualified institutional buyers (QIBs) portion was oversubscribed 1.88 times, non-institutional investors 41 per cent and retail investors 18.16 times.

The price band was fixed at Rs 983-985 per share for the IPO.

Matrimony.Com runs online match-making business under BharatMatrimony brand.

Net proceeds from the issue will be utilised towards advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes.

Axis Capital and ICICI Securities were the books running lead managers to the offer. The registrar to the offer was Karvy Computershare Private Ltd.