Matrimony.com, which runs online matrimony brands like BharatMatrimony and EliteMatrimony, is launching its initial public offering today.
Matrimony.com was launched in 2001 to provide online matchmaking services to the Indian market, and has over 3,500 employees at 140 branches across the country.
For its IPO, which was previously set to happen in 2015, Matrimony.com has fixed a price band of Rs 130 crore ($20m) and an offer for sale of up to 37,67,254 shares.
The OFS consists of up to 14,61,006 shares by Bessemer India Capital Holdings II Ltd, 1,55,760 by Mayfield XII, Mauritius, 16,83,207 by CMDB II, 3,84,447 by Murugavel Janakiraman and 82,834 by Indrani Janakiraman.
Matrimony.com is looking to raise as much as 5bn rupees ($78m) with the IPO, which will close on 13th September.
Matrimony Ltd filed the draft red herring prospectus with market regulator SEBI for its initial public offering back in May.
This was the second time the Indian dating company had filed its IPO prospectus, having previously done so in August 2015, before deciding to postpone the offering due to “unforeseen circumstances.”
The company said the proceeds will be used for advertising and business promotion activities, the purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes.
The IPO is the first in the market by a company running online dating and matrimony services.
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