IndiaMart InterMesh Limited on Wednesday has decided to open the qualified institutional placement (QIP) for receiving bids of equity shares with the face value of Rs10each. The company reportedly plans to raise Rs1,100cr with the Issue.
The floor price in respect of the Issue, based on the pricing formula is Rs9065.61 per Equity Share of the company.
The company stock was in demand in early deals on Thursday. Each stock was trading at Rs9175.00 per piece up Rs616.60 or 7.20% on the BSE (9.26 am). It touched a high of Rs9298.90 on Thursday morning.
“The fundraise committee of the company may, at its absolute discretion offer a discount of not more than 5% to the said Floor Price. The issue price will be determined by the Ccompany in consultation with the book running lead managers appointed for the Issue,” company said in a regulatory filing on Wednesday.