IndiaMart IPO subscribed 36 times; receives bids for 96.92 mn shares

The initial public offering (IPO) of IndiaMart InterMesh was subscribed 36 times on Wednesday, the final day of the offer. The issue received bids for 96.92 million shares, as against 2.7 million on offer.

The retail investor portion of the issue was subscribed 13 times, the institutional investor portion 31 times, while the high networth investor portion was subscribed 62 times. Indiamart is a leading online business-to-business (B2B) marketplace. It has around 82.7 million registered buyers.

The firm enables discovery of products and suppliers across 50 industries. According to a KPMG report, it has close to 60 per cent market share of the online B2B classified advertisement space in India in FY17.