At Rs 1302.55 on the BSE
Meanwhile, the S&P BSE Sensex rose 68.81 points, or 0.17% to 39,908.06.
Shares of IndiaMART InterMESH settled at Rs 1302.55 on BSE, a premium of 33.87% over the initial public offer price of Rs 973.
The stock debuted at Rs 1180, a premium of 21.27% to the initial public offer (IPO) price. The stock hit a high of Rs 1339 and low of Rs 1180 in the intraday. On BSE, 6.89 lakh shares were traded on the counter.
The IPO of IndiaMart InterMesh received bids for 9.74 crore shares and the IPO was subscribed 36.21 times. The issue opened for subscription on 24 June 2019 and closed on 26 June 2019. The price band for the issue was Rs 970 to Rs 973 per share.
The objects of the issue were to benefit from listing the equity shares on the BSE and the NSE, to enhance the firm's visibility and brand image; and to provide liquidity to its existing shareholders.
The proceeds from the offer will be paid to selling shareholders and the company will not receive any such proceeds.
On a consolidated basis, IndiaMart InterMesh reported net profit Rs 20.04 crore on net sales to Rs 507.42 crore in the financial year ended on 31 March 2019.
IndiaMart InterMesh (IM) is India's largest online Business-to-Business (B2B) marketplace for business products and services. IM enjoyed 60% market share in online B2B classifieds space in India in FY2017, according to KPMG report commissioned by the company.
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