Matrimony.com IPO subscribed 1.3 times on day 2

IPO’s price band is Rs983-985 per share

IPO’s price band is Rs983-985 per share

The initial public offer (IPO) of Matrimony.com, which runs online match-making portals, was subscribed by 1.3 times on Tuesday with investors bidding for 36.65 lakh shares of the 28.11 lakh shares on offer.

Retail investors bid for almost 4.66 times or 23.79 lakh shares of the 5.09 lakh shares reserved.Matrimony.com has priced its IPO aimed at raising Rs 501 crore in a price band of Rs 983-985. The portion set aside for qualified institutional buyers (QIBs) was subscribed 83% and while that for retail investors was subscribed 1.19 times.

"I also take this opportunity to thank our associates, millions of our members and partners who supported us in the successful journey of 17 years".

After a tepid first day, online matchmaking and marriage services provider, Matrimony, hit a homerun on the second day of its IPO.

Ahead of the IPO, the IPO committee of the board of directors of Matrimony.com on Friday, 8 September 2017, finalised allocation of 22.93 lakh shares to 10 anchor investors at Rs 985 per share aggregating to Rs 225.88 crore. The price band of the IPO has been fixed at Rs 983 to Rs 985 per equity share of face value of Rs 5 each. Company's brand, BharatMatrimony.com and other matchmaking brands such as CommunityMatrimony.com and EliteMatrimony.com are well- established in India. Net proceeds from the issue will be utilized towards advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes.

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

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