The initial price offering (IPO) for Matrimony was subscribed 67% on the first day, data on the National Stock Exchange showed. Monday was the first day of bidding and the offering will be open for investors today and tomorrow as Matrimony looks to shore up Rs 500 crore through the IPO. The price band is Rs 983-985 per share for the IPO. 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. Matrimony received bids for 18,78,510 shares against the total issue size of 28,11,280 shares. The portion for qualified institutional buyers was subscribed 83% while the retail investors subscribed to the shares 1.19 times. 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. Meanwhile, 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. Financials The company has…
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