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  Business   Companies  10 Sep 2017  Three IPOs to hit market this week to raise Rs 6,600 crore

Three IPOs to hit market this week to raise Rs 6,600 crore

PTI
Published : Sep 10, 2017, 2:01 pm IST
Updated : Sep 10, 2017, 2:01 pm IST

The initial public offer (IPO) of Matrimony.com, which runs online match-making portals, will be open from 11-13 September.

Matrimony.com, Capacit’e Infraprojects and ICICI Lombar will launch their initial share sale offers this week to raise about Rs 6,600 crore.
 Matrimony.com, Capacit’e Infraprojects and ICICI Lombar will launch their initial share sale offers this week to raise about Rs 6,600 crore.

 New Delhi: Three companies—Matrimony.com, Capacit’e Infraprojects and ICICI Lombard—will launch their initial share sale offers this week to raise about Rs 6,600 crore.

The initial public offer (IPO) of Matrimony.com, which runs online match-making portals, will be open from 11-13 September.

The IPO comprises fresh issue aggregating up to Rs 130 crore and an offer for sale of up to 37.67 lakh equity shares. Matrimony.com, which runs online match-making business under BharatMatrimony brand, among others, is expected to raise over Rs 500 crore.

The price band for the IPO has been fixed in the range of Rs 983-985 per share. The company has raised nearly Rs 226 crore from anchor investors on Friday.

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

Engineering firm Capacit’e Infraprojects’ Rs 400 crore IPO will be launched on 13 September. The issue, with a price band of Rs 245-Rs250 per equity share, will close on 15 September.

The company plans to utilise the proceeds of the issue for funding working capital requirements, purchasing of capital assets and general corporate purposes.

Besides, ICICI Lombard General Insurance Company has set Rs 651-661 as the price band for its IPO, which will make it a Rs 5,700 crore issue. The issue, the first by any general insurance company, will be open for subscription from 15-19 September.

So far this year, 19 companies, including BSE, Avenue Supermarts and Central Depository Services (India) Limited, have hit the market with their IPOs. Last week, Dixon Technologies and Bharat Road Network concluded their IPOs.

Tags: ipo, bharatmatrimony
Location: India, Maharashtra, Mumbai (Bombay)