Matrimony.com, which provides Online matchmaking services, has raised Rs 225.9 crore ahead of its initial public offering (IPO) next week. The company has allotted 22.93 lakh shares to anchor investors.
The Chennai-based company is all set to open of its ₹500 crore IPO next week. As per the reports, the key investors have been allotted shares at the upper end of the IPO price band of ₹983-985 per share.
The key investors who were alloted the shares include Smallcap World Fund, HDFC Trustee Company, Baring Private Equity India, BNP Paribas Arbitrage, Goldman Sachs India and DB International (Asia).
The company is planning to use the raised money for advertising and business promotion activities, along with purchase of land for construction of office premises in Chennai. It will also use the money for repayment of overdraft facilities and for general corporate purposes.
As a part of its initial public offering (IPO), the company is looking to issue up to 3,767,254 equity shares in exchange for a total of ₹130 crore. The minimum bid lot is 15 equity shares and in multiples of 15 equity shares thereafter. The equity shares will reportedly be listed on the BSE and the NSE.
While the company was founded in 1997 by Murugavel Janakiraman, it began its online matchmaking services in 2001. It also runs BharatMatrimony.com, EliteMatrimony.com, CommunityMatrimony.com, AssistedMatrimony.com, MatrimonyDirectory.com and Tambulya.com.
Besides, the company also has a dedicated internet channel named tv.bharatmatrimony.com, which offers video clips of celebrity weddings, polls and interviews among others.