Match making company Matrimony.com files draft papers for Rs 350 crore IPO

Matrimony.Com, which runs online match making business under 'BharatMatrimony' brand, on Monday filed draft papers with markets regulator Sebi to raise an estimated Rs 350 crore through an IPO.

The initial public offer (IPO) consists of a fresh issue aggregating up to Rs 130 crore and an offer for sale of up to 3,767,254 equity shares.

Proceeds from the issue will be utilised for advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes.

According to sources, the company is expected to garner Rs 350 crore through the public offer.

Axis Capital and ICICI Securities are the book running lead managers to the issue.

Matrimony's business currently comprises two segments matchmaking services and marriage services and related sale of products.

Earlier, the company had filed a Draft Red Herring Prospectus (DRHP) with Sebi in 2015 to raise funds through initial share sale but did not go ahead with the plan.