Matrimony.com was trading at Rs 918.95 at 12:45 IST on BSE, a discount of 6.71% over the issue price of Rs 985 on its debut on the stock exchanges today, 21 September 2017.
Meanwhile, the S&P BSE Sensex was down 93.76 points or 0.29% at 32,306.75.The stock opened at Rs 985, matching its issue price. The stock had hit a high of Rs 1,025 and a low of Rs 900 so far during the day. On the BSE, 6.04 lakh shares were traded on the counter so far.
The initial public offer (IPO) of Matrimony.com received bids for 1.24 crore shares as against 28.11 lakh shares on offer. The IPO was subscribed 4.44 times. The company had fixed the price band of the IPO at Rs 983-985 per share. The IPO opened on 11 September 2017 and closed on 13 September 2017.
Category wise, the qualified institutional buyers (QIBs) category was subscribed 1.88 times. The non institutional investors (NIIs) category was subscribed 0.41 times. The retail individual investors (RIIs) category was subscribed 18.16 times.
Ahead of the IPO, the IPO committee of the board of directors of Matrimony.com on 8 September 2017, finalised allocation of 22.93 lakh shares to 10 anchor investors at Rs 985 per share aggregating to Rs 225.88 crore. The anchor investors included Small Cap World Fund, Goldman Sachs India, HDFC Trustee Company and Baring Private Equity India among others.
The IPO of Matrimony.com comprised of a fresh issue of shares aggregating up to Rs 130 crore and an offer for sale of up to 37.67 lakh equity shares by the selling shareholders.
The proceeds of the IPO would be utilized for advertising & business promotion activities, purchase & development of office premises in Chennai, repayment of overdraft facilities, procurement of hardware & software requirements and general corporate purposes.
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Matrimony.com is the leading provider of online matchmaking services in India in terms of the average number of website pages viewed by unique visitors in June 2017. Company's brand, BharatMatrimony.com and other matchmaking brands such as CommunityMatrimony.com and EliteMatrimony.com are well- established in India.
Matrimony.com reported consolidated net profit of Rs 43.79 crore in the year ended 31 March 2017 (FY 2017) compared with net loss of Rs 75.07 in FY 2016. Revenue from operations rose 14.91% to Rs 292.82 crore in FY 2017 over FY 2016.
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