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Infibeam to hit markets with IPO next week

Ahmedabad-based ecommerce player Infibeam will be hitting the markets with its IPO on March 21, reports ShubhAngel. The company is looking to raise Rs 450 crore from the issue and had filed the draft red herring prospectus in July 2015 with markets regulator Securities Exchange Board of India (SEBI). The lead bankers to the issue are SBI Capital Markets, Elara Capital, ICICI Securities and Kotak Mahindra Capital Company Limited. Infibeam also said that the proceeds of the issue will be used for the company’s international expansion, setting up of data centres, infrastructure investments, and general business purposes. It is interesting to note that Infibeam will be going through the traditional IPO route and is looking to list on the main board of the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The company will not be listing on the…

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