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IndiaMart InterMesh spurts on QIP launch

Capital Market 

IndiaMart InterMesh jumped 6.91% to Rs 9,150 after the B2B marketplace launched its qualified institutional placement (QIP ) to raise funds.

The fund raise committee of the board on 17 February 2021 decided to open an issue yesterday, 17 February 2021 for receiving bids. The committee approved and adopted the preliminary placement document as on 17 February 2021 and the application form, in connection with the issue.

The floor price in respect of the issue, based on the pricing formula has been pegged at Rs 9,065.61 per equity share of the company. The board may offer a discount of 5% on the floor price at its discretion.

The announcement was made after market hours yesterday, 17 February 2021.

IndiaMART is India's largest online B2B marketplace for business products and services. The company makes it easier to do business by connecting buyers and sellers across product categories and geographies in India through business enablement solutions.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, February 18 2021. 11:34 IST