$68 Mn worth IndiaMART IPO began on June 24
IndiaMART has also reserved 10K shares for eligible employees
The company will sell a total of 1.4 Mn shares in the IPO
While being the first online B2B marketplace for business products and services to float an IPO was not recognition enough for IndiaMART, it added yet another feather to its cap on June 26, the closing day of bids for its IPO, getting oversubscribed by 36 times.
This is one of the highest subscriptions any Indian internet company has got so far while listing on NSE and BSE. In 2013, JustDial’s IPO was oversubscribed 11.63x while Infibeam IPO got oversubscribed by 1.11x in 2016.