Investments to Raise Rs.350 Cr Through IPO

Match making website had announced its plans of going IPO in February, as covered by iamWire. Finally it has filed papers for the initial public offering (IPO) with market regulator Sebi to raise an investment of Rs.350 crore and provide exit to its present investors- Bessemer India Capital Holdings, Draper Investment Company LLC, Hartenbaum Revocable Trust and Indrani Janakiraman.

The Chennai based company plans to use the funds for advertising, business promotion, and procurement of hardware and software systems and purchase and development of office premises, as reported by ET.

According to the draft red herring prospectus filed with markets regulator SEBI Citigroup Global Markets India Pvt. Ltd, Deutsche Equities India Pvt. Ltd and Kotak Mahindra Capital Co. Ltd are the investment bankers for the IPO.

The company has a database of over 2.65 million active profiles. It competes with other match making portals like, imes Group’s and Info Edge-owned

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