Infibeam eyes to raise up to $166M via IPO
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28 Jul 2014
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Ahmedabad-based Infibeam Inc, the company behind the consumer e-commerce venture Infibeam.com and B2B e-commerce platform Build A Bazaar, is looking to raise Rs 500-1,000 crore (USD 83-166 million) through an Initial Public Offering (IPO) in India in the next couple of quarters, its founder and CEO Vishal Mehta told VCCircle, reported Sainul K Abudheen, VCCircle. The firm is aiming at a valuation of Rs 2,500-3,000 crore (up to USD 500 million), he added. “We are looking at India to float the issue since it is our primary market,” said Mehta. Mehta added that the IPO proceeds will be used to grow its business in the domestic and international markets. “We see huge potential for our platform business in global markets, as it is extremely scalable and supports multiple languages & currencies,” he added. He added the company is in talks with a few merchant bankers, though he declined to share the names. Earlier, The Economic Times had reported that Infibeam has appointed Axis Capital and Kotak Investment Bank as the bankers to the proposed issue. According to media reports, this would make it the first e-commerce firm to go public in India. Earlier, the parent of HomeShop18 had filed documents to float an IPO in the US. The parent firm of lifestyle e-tailer Koovs had got listed in London’s AIM exchange. |
| Source: Dion Global Type: IPO Related |
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