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Matrimony.com Will IPO Later This Year

matrimony.com

Matrimony.com has just secured approval for an IPO later this year.

The Indian dating business received the approval from the Securities and Exchange Board of India, and is looking to raise around Rs 1,000 crore ($150m).

The dating company filed its Draft Red Herring Prospectus back in August.

In addition to flagship brand Bharatmatrimony.com, the Indian company also runs EliteMatrimony.com, CommunityMatrimony.com, AssistedMatrimony.com, MatrimonyDirectory.com and Tambulya.com.

Its founder & CEO, Murugavel Janakiraman, said the company aims to get listed by November.

Between 2011 and 2015, the company’s net revenue has doubled according to its IPO draft file submitted in August, reaching Rs 232 crore ($35m) by March 2015, up 16% from the year before.

Its EBITDA also grew four fold in the three years before 2015, the company ending with EBITDA of Rs 17.8 crore ($2.6m).

The company, which was founded back in 1997, also revealed it had 647,000 paid subscribers in 2015, up from 571,000 the year before.

Speaking to TechCircle, Janakiraman said: “We have expanded from Bharat Matrimony to other regional language and community sites to maximise our revenues and market share. We have 300 plus sites now. We have India’s first elite matrimony service for the rich and affluent.”

Read more about the company here.

Simon Edmunds

Simon is the former editor of Global Dating Insights. Born in Newcastle, he has an English degree from Queen Mary, London and after working for the NHS, trained as a journalist with the Press Association. Passionate about music, journalism and Newcastle United.

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