Matrimony.com, which runs matrimony site BharatMatrimony.com, among others, will do an initial public offering (IPO) of equity by November. The plan is to raise around Rs 350 crore as a primary offering into the company and another 1.63 million shares of secondary sales by investors, said sources. Bessemer Venture Partners will be exiting through the IPO. The company has filed a draft prospectus to raise around Rs 500 crore.
The company has three private equity investors - Mayfield, Bessemer and JPMorgan Asset Management, which recently bought out stake in the company from Canaan Partners. Matrimony.com is managing BharatMatrimony.com and CommunityMatrimony.com. It claims to be one of the fastest growing and profitable organisations in both the digital and offline space. Over the years, it has initiated several new business models, such as AssistedMatrimony.com, EliteMatrimony.com and CommunityMatrimony.com. Apart from online matchmaking, the company is also into selling of return gifts.
According to earlier reports, online major Yahoo! was also an investor in the company. It sold its 12 per cent stake, picked up by Bessemer, Mayfield and Canaan.
