Sebi approves Matrimony.Com, Quick Heal's IPO plans

The Matrimony.Com had filed its DRHP with markets regulator in August, while Quick Heal had submitted its draft documents in Sept and their IPOs may raise around Rs 1,000 cr

Matrimony.com, which operates under BharatMatrimony brand, and Quick Heal Technologies have received the Securities and Exchange Board of India (Sebi) approval to launch their initial public offers (IPOs) and may raise around Rs 1,000 crore. Matrimony.com had filed its Draft Red Herring Prospectus (DRHP), with Sebi in August, while Quick Heal had submitted its draft documents in September. Sebi cleared the proposed initial share sales and gave final observations on the IPOs on December 18.

According to the draft paper, Matrimony.com’s IPO comprises fresh issue of equity shares worth Rs 350 crore and an offer for sale of up to 1.66 million scrips by existing shareholders. The existing investors include Bessemer India Capital Holdings, Draper Investment Company LLC, Hartenbaum Revocable Trust and Indrani Janakiraman.

According to sources, the company is expected to garner Rs 600-700 crore through the public offer.    Press Trust of India

This would be the second major IPO by an Internet company after Just Dial. The local search engine firm had raked in Rs 950 crore through its public offer in 2013.

The funds would be used for business promotion, purchase and development of office premises in Chennai, repayment of overdraft facilities and procurement of hardware and software requirements for a centrally controlled contact centre and general corporate purposes.

Matrimony competes with Shaadi.com, Times Group's SimplyMarry.com and Info Edge-owned Jeevansaathi.com.

Quick Heal's IPO comprises of a fresh issue of shares worth up to Rs 250 crore.

Besides, an offer for sale of more than 6.81 million shares would be made by Kailash Sahebrao Katkar, Sanjay Sahebrao Katkar and Sequoia Capital.