IndiaMart IPO to open on June 24: Highlights

The Indian stock markets are soaring and the initial public offering (IPO) segment is heating up too. The latest to line up for an IPO is IndiaMart InterMesh. This is an online business-to-business marketplace for business products and services. IndiaMart will launch its IPO from June 24, 2019, according to a statement by the company. Here are the highlights:

* IndiaMart IPO's Rs 475-cr will launch on June 24 
* IndiaMart IPO has fixed a price band of Rs 970-973 per share.
* IPO is of up to 48,87,862 equity shares.
* Promoters Dinesh Chandra Agarwal and Brijesh Kumar Agrawal will sell 14,30,109 shares through the issue
* Investors Intel Capital (Mauritius), Amadeus IV DPF and Accion Frontier Inclusion Mauritius will offload 33,20,753 shares
*  1,37,000 equity shares will be offloaded by other selling shareholders.
* At the upper end of the price band, the offer is expected to raise about Rs 475 crore.
* The issue will close on June 26.
* Book-running lead manager to the offer: ICICI Securities, Edelweiss Financial Services and Jefferies India.
* The equity shares of IndiaMart InterMesh are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.