IndiaMart InterMesh Limited makes a bumper debut on the bourses

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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 intraday high of Rs. 1338 and Rs. 1339 on NSE and BSE respectively. The script closed on Rs. 1301 and Rs. 1302.55 on NSE and BSE respectively at the end of debut day.

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.”