Infibeam’s IPO Oversubscribed 1.10 times on the Last Day of Issue

Infibeam is over subscribed as on book closing date 23rd March 2016. The IPO subscribed 21% on the opening date 21st March 2016 .  The company has set a price band of Rs. 360 to Rs.432  a equity share for the IPO. The company  got less response from Institutional investors bidding  lower than  its allocated quota.  While, it got orders for about 13.8 million shares compared to 12.5 million on offer as on 23rd March 2016 as per the data given by the National Stock Exchange. Active bidder for the firm’s IPO are high net worth individuals and cooperates  with orders worth 1.8 times the total numbers of shares. The portion set aside for qualified institutional buyers (QIBs) was subscribed 86% and on-institutional investors category was oversubscribed 2.23 times, while that of retail investors received 1.25 times subscription.

Infibeam, one of the  largest e-commerce platform in India  introduced an Initial Public Offering  to raise up to 5.4 billion rupees ($ 8.54) million . It is the first e-commerce listing company.

Infibeam is incorporated in 2007. The firm operates several e-commerce services like, Build-a-Bazaar, Incept and Picsquare

Flipkart, Amazon and Snapdeal are the main competitors of the company. SBI Capital Markets and Elara Capital India are the lead managers to manage the company’s issue.

Like this Article? Subscribe to Our Feed!

Leave a Reply

Your email address will not be published.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

Check Out Best Brokerage Deals