Infibeam files DRHP to Sebi for Rs 450-cr IPO

Ahmedabad-based Infibeam Incorporation Limited has filed a Draft Red Herring Prospectus (DRHP) with Sebi for an initial public offering (IPO) of equity shares of Rs 10 each for cash including a share premium on per equity basis aggregating up to Rs 450 crore.

The equity shares offered through the Issue are proposed to be listed on both BSE and NSE.

An Indian e-commerce company, Infibeam, along with its subsidiaries, own and operate the Infibeam BuildaBazaar e-commerce marketplace, which provides cloud-based, modular and customizable digital solutions and other value added services to enable merchants to set up storefronts.

As part of its integrated e-commerce ecosystem, it also, along with its subsidiaries, operates Infibeam.com, one of India's leading multi-category e-retailers. Its integrated business model enables it to provide comprehensive, multi-channel and multi-screen value added services to merchants.

The global coordinators and book running lead managers to the issue are SBI Capital Markets Limited, ICICI Securities Limited and Kotak Mahindra Capital Company Limited and the book running lead manager to the issue is Elara Capital (India) Private Limited.

The issue is being made through the book building process wherein at least 75 per cent of the issue shall be allotted on a proportionate basis to Qualified Institutional Buyers (QIBs) and the company may allocate up to 60 per cent of the QIB Portion to anchor investors. on a discretionary basis, the company stated.

"Further, not more than 15 per cent of the issue shall be available for allocation on a proportionate basis to non-institutional bidders and not more than 10 per cent of the issue shall be available for allocation to retail individual bidders in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended," the company said in an official statement.