Online retailer, Infibeam is planning to raise funds Via IPO route, the Ahmedabad based ecommerce player is in plans to raise at least 20% of its valuation and is expected to be valued at Rs 2,500-3,000 Cr.
“We are seriously evaluating the IPO route to raise funds for domestic and international expansion, manpower and infrastructure enhancement,” Vishal Mehta, Founder & CEO, Infibeam said in a conversation with ET.
For the purpose, Infibeam has also appointed Axis Capital and Kotak Investment Bank its merchant bankers. The online retailer is expected to draft red herring prospectus with Sebi soon and will come out with the IPO within the next three quarters.
Recommended For You:
Last month, Sony Music Entertainment had acquired a strategic 26% in its subsidiary Infibeam Digital Entertainment Pvt Ltd (INDENT) and earlier this year, Infibeam had bought digital marketing company OdigMa for $5 Mn.
Apart from its B2C platform Infibeam.com, it also has a B2B platform called BuildaBazaar.com.
According to reports, the company broke even for the first time in 2013-14, with its net revenue being around Rs 350 Cr. As per Infibeam’s internal estimates the company will make profits in the first quarter of FY 2014-15.
Recently, Homeshop18 has filed for a $75 Mn IPO at NYSE. This year, lifestyle ecommerce player, Koovs had also filed for $37 Mn IPO at London’s AIM Exchange.