Business Standard

Monday, December 23, 2024 | 08:02 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Regulator seeks clarification on proposed Matrimony.com IPO

Regulator seeks clarification on proposed Matrimony.com IPO

Press Trust of India New Delhi
Market regulator Securities and Exchange Board of India (Sebi) has sought a clarification on the proposed Rs 600-700 crore initial public offering (IPO) of Matrimony.com, which runs online match making business under the BharatMatrimony brand.

Without disclosing details of clarifications sought, Sebi has said "clarifications are awaited from the lead manager" for the proposed public issue.

By the latest weekly update of processing status of draft-offer documents filed to Sebi, the regulator has said clarifications were awaited on the proposed IPO of Matrimony.Com as on September 18.

The next update would be available on September 28.

Sebi said it might issue observations on Matrimony.com's IPO document within 30 days from the date of receipt of a satisfactory reply.
 

The regulator had received the draft-offer documents on August 18, this year through its lead manager Kotak Mahindra Capital Company Ltd.

By the draft red herring prospectus (DRHP), the IPO comprises fresh issue of shares worth Rs 350 crore and an offer for sale of up to 1.66 million stocks by existing shareholders.

The existing investors include Bessemer India Capital Holdings, Draper Investment Company LLC, Hartenbaum Revocable Trust, and Indrani Janakiraman.

According to sources, the company is expected to get Rs 600-700 crore through the proposed IPO.

This would be the second major IPO by an internet company after Just Dial. The local search engine firm had raked in Rs 950 crore through its IPO in 2013. The funds would be used for business promotion, purchase and development of office premises in Chennai, repayment of overdraft facilities and procurement of hardware and software and general corporate purposes.

Matrimony competes with Shaadi.com, Times Group's SimplyMarry.com and Info Edge-owned Jeevansaathi.com.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 21 2015 | 10:41 PM IST

Explore News