wordpress blog stats
Connect with us

Hi, what are you looking for?

Matrimony.com IPO subscribed 4.44 times on last day

The initial price offering (IPO) for Matrimony was subscribed 4.44 times (12,470,595 bids for 2,811,280 shares offered) at the end of the last (third) day, according to data on the Bombay Stock Exchange. The bids at the end of Day 3:

  • Total bids from Retail Investors were 9,258,390 for 509,890 shares offered to them. This is oversubscribed, at around 18.16 times.
  • Qualified Institutional Buyers bid for 2,880,780 shares, around 1.88 times the 1,530,905 shares reserved for them.
  • Non Institutional investors bid for 313,320 shares, around 41% of the 764,836 shares allocated to them.
  • Employees bid for the 18,105 shares, around 3.21 times the 5649 shares reserved for them.

Matrimony is looking to raised Rs 500 crore through the IPO. The price band is Rs 983-985 per share for the IPO, and the bids are spread evenly across this price range, and a small number a cut-off.

Matrimony raised Rs 225.8 crore by allotting shares to institutional investors as part of its anchor book allotment which included Small Cap World Fund, HDFC Mutual Fund, private equity fund Baring Private Equity India AIF, and  Goldman Sachs Ltd.

This is Matrimony’s second IPO attempt. The matchmaking portal received the final observation letter in July, from the Securities and Exchange Board of India (SEBI) for the IPO.  The company had previously postponed its IPO in December last year citing that the weak market conditions as a reason, around demonetization time.

Who’s selling?

The equity shares on the Offer for sale (OFS) include 14,61,006 lakh shares of Bessemer India Capital Holdings, 1,55,760 lakh shares of Mayfield, and 16,83,207 lakh shares of CMDB II, plus 3,84,447 lakh shares of Murugavel Janakiraman, and 82,834 shares of Indrani Jankiraman, who is a member of the promoter group. With this IPO Bessemer will be exiting the company completely by selling its entire 6.87% stake in the company.

Financials

The company has posted losses of Rs 1.67 crore in FY 11, Rs 3.79 crore in FY12, Rs 9.16 crore in FY14 and Rs 2.93 crore in FY15. For the fiscal year ended March 2013, Matrimony posted a profit of Rs 10.41 crore. The company mentions that the losses in fiscal 2014 and 2015 resulted from the impact of exceptional expenses incurred in defending Matrimony, its promoter and certain investors in connection with the Desai et al. v. Infonauts, Inc.,et. al litigation. The legal costs in FY 15 were Rs 14.18 crore and Rs 18.90 crore in FY14. 

Advertisement. Scroll to continue reading.

Matrimony.com reported revenues of Rs 242.85 crore for the FY15. Majority of the company’s revenues came from its match making services (Rs 231.99 crore) followed by marriage services (Rs 7.35 crore) and sale of products (Rs 2.07 crore).

Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

News

By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ