Shares of Infibeam Incorporation settled at Rs 445.70 on BSE, a premium of 3.17% compared with initial public offer price of Rs 432 on its debut on the bourses today, 4 April 2016.
Meanwhile, the S&P BSE Sensex rose 130.01 points or 0.51% at 25,399.65
The stock debuted at Rs 458, a premium of 6.01% compared with its initial public offer (IPO) price of Rs 432 per share. The stock hit a high of Rs 466.90 and a low of Rs 439.90 in intraday trade. On BSE, 15.25 lakh shares were traded in the counter.
The initial public offer (IPO) of Infibeam Incorporation received tepid response from institutional investors. The IPO received good response from the non-institutional investors (NII) category. The NII category was subscribed 2.23 times and the retail investors' category was subscribed 1.31 times. The Qualified Institutional Buyers (QIBs) category was subscribed 86% or 0.86 times. Overall, the IPO was subscribed 1.11 times. The issue price was set at Rs 432 per share, at the top end of the Rs 360 to Rs 432 per share price band for the IPO.
Infibeam Incorporation is an e-commerce company focused on developing an integrated and synergistic e-commerce business model. It owns and operates the Infibeam BuildaBazaar (BaB) e-commerce marketplace, which provides cloud-based, modular and customizable digital solutions and other value added services to enable merchants to set up online storefronts. Infibeam Incorporation also operates Infibeam.com, a multi-category e-retail website primarily focused on fast moving product categories.
Based on consolidated financial performance, Infibeam Incorporation reported net profit of Rs 6.57 crore on revenue from operations of Rs 171.26 crore for six months ended 30 September 2015. The company reported a net loss of Rs 9.78 crore on revenue from operations of Rs 288.27 crore for the year ended 31 March 2015.
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