Indian matchmaker IPO draws flurry of suitors


Shutterstock photo




MUMBAI, Sept 13 (Reuters) – Matrimony.com, the first pure-play Indian matchmaking website to launch a stock market listing, drew heavy demand for its offering, benefiting from the country’s booming IPO market.

Market participants say the enthusiastic investor response could encourage other players in India’s$50 billion wedding services market to consider going public. India’s broader NSE stock index has surged nearly 25 percent this year and investor interest in IPOs has soared.

Matrimony.com’s initial public offering of up to 5 billion rupees ($78 million) was subscribed 4.4 times over as of 7.45 p.m.India time (1415 GMT) on Wednesday, the last day of sale, with applications for over 12.5 million shares received, against the 2.8 million shares on…



Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *