Infibeam plans to raise funds via IPO

Online retailer Infibeam Inc is planning to raise Rs 500-1,000 crore (USD 83-166 million) through an Initial Public Offering (IPO) in India, the company’s Founder and CEO Vishal Mehta told VCCircle, reported Sainul K Abudheen, VCCircle.

The company is estimating the value of Rs 2,500-3,000 crore, he added.
“We are looking at India to float the issue since it is our primary market,” said Mehta.

Infibeam has appointed Axis Capital and Kotak Investment Bank to manage the IPO, as per the media reports.

According to media reports, this would make it the first e-commerce company to go public in India. Earlier, the parent of HomeShop18 had filed documents to float an IPO in the US.