IndiaMart InterMesh jumped 6.91% to Rs 9,150 after the B2B marketplace launched its qualified institutional placement (QIP ) to raise funds.
The fund raise committee of the board on 17 February 2021 decided to open an issue yesterday, 17 February 2021 for receiving bids. The committee approved and adopted the preliminary placement document as on 17 February 2021 and the application form, in connection with the issue.
The floor price in respect of the issue, based on the pricing formula has been pegged at Rs 9,065.61 per equity share of the company. The board may offer a discount of 5% on the floor price at its discretion.
The announcement was made after market hours yesterday, 17 February 2021.
IndiaMART is India's largest online B2B marketplace for business products and services. The company makes it easier to do business by connecting buyers and sellers across product categories and geographies in India through business enablement solutions.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU