- Share lists at premium of 21.27% at 1180
- Issue price of the IPO was Rs. 973 per equity share
- Issue was subscribed over 36 times
- QIB subscription : 30.83 times | HNI: 62.13 times | Retail: 13.37 times
Mumbai, July 04, 2019: The equity shares of IndiaMart InterMesh Limited (India’s largest online B2B market place) were listed on the bourses at a premium of 21.27% at 1180 level compared to its issue price of Rs 973 per share in a ceremony held at National Stock Exchange today.
The IPO of IndiaMart InterMesh was opened on June 24 and closed on June 26 with a price band of Rs 970-973 per share. The qualified institutional buyers’ (QIB) book was subscribed close to 30.83 times, non-institutional investors (NII) 62.12 times and retail individual investors (RII) 13.37 times.
IndiaMart InterMesh stock touched an intra day high of Rs 1339 on BSE.
Commenting on the successful IPO listing, Mr. Dinesh Agarwal, Founder and Managing director, IndiaMart InterMesh Limited, said, We are overwhelmed by the record response we received from the investors for our IPO. It is a matter of honor for IndiaMart to be a part of the popular stock exchanges. This would not have been possible without the trust shown by our investors, customers and employees. We are confident that together we will deliver value for all stakeholders in the times to come.”
He further added, “The Indian Tech space is growing and companies are turning profitable because of the impressive digital program in the country. The classifieds business model has found its feet in the Indian market. Investors are trusting the tech sector and starting to give the desired valuations to companies now.
Commenting on the occasion, Mr. Vikram Limaye, MD and CEO, NSE, said, “The listing of IndiaMART sets an encouraging tone for other similar technology and internet based companies to access the public markets. NSE, with its focus on technology, has been a pioneer in creating platforms to support new-economy companies as they begin their journey in the public markets. NSE is a strong supporter of creating viable fund raising opportunities as well as liquidity options for new economy companies through public markets and has carved out a dedicated segment, the Innovator Growth Platform. This Platform makes it easier for tech companies, across growth stages, to access the public markets.”
About IndiaMart InterMesh Limited:
IndiaMart InterMesh Limited is India’s largest online B2B marketplace for business products and services. The company primarily operates through its product and supplier discovery marketplace, www.indiamart.com or “IndiaMART”. IndiaMart’s online marketplace provides a platform for mostly business buyers, to discover products and services and contact the suppliers of such business products and services. IndiaMART had an aggregate of 325.8 million, 552.6 million and 723.5 million visits in fiscals 2017, 2018 and 2019, respectively, of which 204.8 million, 396.9 million and 550.3 million comprised mobile traffic, or 63%, 72% and 76% of total traffic, respectively.
As of March 31, 2019, the company had 82.70 million registered buyers and had 5.55 million supplier storefronts in India. These Indian supplier storefronts had listed 60.73 million products as of March 31, 2019 of which 76% of goods comprised products and 24% were services. IndiaMart refers to an enquiry placed by buyers on IndiaMART through telephone, SMS, email or by posting an RFQ (as defined below) as a “business enquiry”.
Company also provides a robust two-way discovery marketplace connecting buyers and suppliers. Buyers locate suppliers on our marketplace, including both Indian small and medium enterprises, or “SMEs”, and large corporates, by viewing a webpage containing the supplier’s product and service listings, or a “supplier storefront”, or by posting requests for quotes called “RFQs” or “BuyLeads”.
Company counts business enquiries received by a supplier, including each receipt of the same business enquiry by multiple suppliers, as a business enquiry delivered. A total of 156.84 million, 289.98 million and 448.97 million business enquiries, respectively, were delivered to IndiaMART suppliers in fiscals 2017, 2018 and 2019. For the years ended March 31, 2018 and 2019 we had 52.59 million and 72.52 million daily unique buyer requests, respectively, of which 52% and 55% were repeat buyers calculated on the basis of the past 90 days, respectively.