 "Matrimony.com to go for IPO by November")
The plans are to raise around Rs 350 crore as primary offering into the company and offer another 1.63 million shares in secondary sales by the investors, said sources close to the development. Bessemer Venture will be exiting through the IPO.
The company has filed a Draft Red Herring Prospectus (DRHP) with the regulator to raise around Rs 500 crore through IPO.
The company has three private equity investors - Mayfield, Bessemer Venture Partners and JP Morgan Asset Management, which recently bought out Canaan Partners' stake in the company.
Matrimony.com Ltd is managing marquee brands such as BharatMatrimony.com and CommunityMatrimony.com and 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 return gifts, which has been evolved as another revenue model.
According to earlier reports, online major Yahoo! was also an investor in the company earlier and it sold its around 12 per cent stake making an exit, which was picked up by Bessemeber Venture, Mayfield Fund and Canaan.
