IndiaMart IPO opens, to raise over Rs 474 cr

B2B e-commerce firm IndiaMart Monday launched its initial public offer (IPO) with a price band of Rs 970-973 to raise over Rs 474 crore.

The company has offered 48,87,862 equity shares in the issue, which will close on June 26.

The price band is set at Rs 970-973 per equity share of face value of Rs 10 each. "The floor price is 97 times the face value of equity shares and the cap price is 97.3 times the face of the equity shares," according to the announcement made by IndiaMart.

The existing investors Intel Capital, Amadeus, DPF Limited along with promoter Dinesh Chandra Agarwal, are diluting some of their stake for the IPO.

Intel Capital (Mauritius) has put up to 20,76,190 equity shares for sale in the offer, Amadeus 1,70,502 equity shares, Amadeus IV DPF limited 2,55,753 shares, Accion Frontier Inclusion Mauritius 4,75,000.

Further, promoters Dinesh Chandra Agarwal have offered 8,52,453 equity shares and Brijesh Kumar Agrawal 5,77,656 equity shares. Other shareholders have put together an aggregate of 1,37,000 equity shares for sale.