IndiaMART InterMESH shares surge 8% after launch of QIP issue

The board may offer a discount of 5 per cent on the floor price at its discretion, the company said

Shares of IndiaMART InterMESH, on Thursday, surged up over 8 per cent to Rs 9,298.90 in intra-day deals on the BSE after the company launched its qualified institutional placement (QIP) issue in order to raise funds.

In an exchange filing on Wednesday, the company said, "The Fund Raise Committee of the Board ("Committee"), at its meeting held on February 17,2021, has decided to open the Issue today i.e. February 17, 2021, for receiving bids". The floor price of the issue is set at Rs 9,065.61 per share, a 5.92 per cent premium to Wednesday's closing price, it said. 

"The board may offer