Matrimony.com & Quick Heal Get SEBI Nod For IPOs

Matrimony.com & Quick Heal Get SEBI Nod For IPOs

Chennai-based match-making portal, Matrimony.com and anti-virus software maker, Quick Heal Technologies, have recieved the approval of market regulator Securities and Exchange Board of India (SEBI) to launch their initial public offers (IPOs), and could raise about INR 1000 Cr.

Both Matrimony.com and Quick Heal had filed its Draft Red Herring Prospectus (DRHP) with SEBI and submitted their draft document in August and October respectively. SEBI has cleared the proposed initial share sale and gave final decision on the IPOs on December 18.

As per the draft, Matrimony’s IPO seeks a raise of upto $53 Mn (INR 350 Cr.) and an offer for sale of up to 16.60 lakh scrips by existing shareholders.

Matrimony.com is backed by Bessemer India Capital Holdings, Draper Investment Company LLC, Hartenbaum Revocable Trust and Indrani Janakiraman. With this, the company seeks a valuation of $ 450-500 Mn (INR 2,700 – 3000 Cr).

Matrimony competes with Shaadi.com, Jeevansaathi and Simplymarry. It had recently invested in the women centric dating app, Matchify, to acquire its 100% subsidiary.

As for Quick Heal, its IPO comprises of a fresh issue of shares to rise up to $38 Mn (INR 250 Cr) and an offer for sale of up to 6.8 Mn equity shares by promoters and Indian units of Sequoia Capital, Quick Heal had said in a statement.


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Vishal Singh

Inc42 Staff
For Vishal Singh, football is oxygen, traveling is living, night is day, online gaming is serious sport and superheroes are real. Yes, real. And like the call sign of any superhero, one can always find him enrapt to his laptop screen. His passion lies in writing pieces that would get the brain engines of readers churning and aspires to one day be known by his opus.
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