MUMBAI (Reuters) - E-commerce firm Infibeam Inc on Tuesday set a price range of 360 rupees to 432 rupees per share for an initial public offering of stock worth up to about 4.5 billion rupees ($67 million).
The company, one of India's smaller e-commerce operators but the first in the sector to announce plans to go public, said in a filing that the subscription period for the offer will run from March 21 until March 23.
Trading is set to begin on or around Apr. 4, Infibeam said. It wasn't immediately how much the firm's total valuation would be according to the IPO price range.
Although a comparatively small IPO, Infibeam's debut is widely expected to serve as a proxy for stock market investors' appetite for potential future offerings in the e-commerce sector, analysts and bankers have said.
($1 = 67.1950 Indian rupees)
(Reporting by Himank Sharma; Editing by Kenneth Maxwell)
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