IndiaMart's Rs 475-cr IPO to open on June 24; price band fixed at 970973 per share

New Delhi: IndiaMart InterMesh, an online marketplace for business products and services, Wednesday said it will launch its initial public offering from June 24 and has fixed a price band of Rs 970–973 per share.

The initial public offering (IPO) is of up to 48,87,862 equity shares, according to a statement by the company.

Promoters Dinesh Chandra Agarwal and Brijesh Kumar Agrawal will sell 14,30,109 shares through the issue, while investors Intel Capital (Mauritius), Amadeus IV DPF and Accion Frontier Inclusion Mauritius will offload 33,20,753 shares and 1,37,000 equity shares by other selling shareholders, it added.

At the upper end of the price band, the offer is expected to raise about Rs 475 crore.

The issue will open on June 24 and would close on June 26.

ICICI Securities, Edelweiss Financial Services and Jefferies India are the book running lead manager to the offer, it said.

The equity shares of IndiaMart InterMesh are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.

IndiaMart InterMesh is an online business-to-business marketplace for business products and services.