Matrimony.com IPO subscribed 66% on day one

Receives bids for 18.53 lakh shares

The initial public offer (IPO) of Matrimony.com received bids for 18.53 lakh shares on the first day of bidding for the IPO, data on NSE showed as at 16:45 IST. The IPO was subscribed 66%. The price band of the IPO has been fixed at Rs 983 to Rs 985 per equity share of face value of Rs 5 each. The IPO opened today, 11 September 2017 and closes on 13 September 2017.

Ahead of the IPO, the IPO committee of the board of directors of Matrimony.com on Friday, 8 September 2017, finalised allocation of 22.93 lakh shares to 10 anchor investors at Rs 985 per share aggregating to Rs 225.88 crore. The anchor investors included Small Cap World Fund, Goldman Sachs India, HDFC Trustee Company and Baring Private Equity India among others.

The IPO of Matrimony.com is comprised of a fresh issue of shares aggregating up to Rs 130 crore and an offer for sale of up to 37.67 lakh equity shares by the selling shareholders.

The proceeds of the IPO will be utilized for advertising & business promotion activities, purchase & development of office premises in Chennai, repayment of overdraft facilities, procurement of hardware & software requirements and general corporate purposes.

Matrimony.com is the leading provider of online matchmaking services in India in terms of the average number of website pages viewed by unique visitors in June 2017. Company's brand, BharatMatrimony.com and other matchmaking brands such as CommunityMatrimony.com and EliteMatrimony.com are well- established in India.

Matrimony.com reported consolidated net profit of Rs 43.79 crore in the year ended 31 March 2017 (FY 2017) compared with net loss of Rs 75.07 in FY 2016. Revenue from operations rose 14.91% to Rs 292.82 crore in FY 2017 over FY 2016.

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