India: Matrimony.com IPO sees demand surge on last day; Capacit’e IPO subscribed 1.32 times

The initial public offering (IPO) of Matrimony.com, which runs online match-maker BharatMatrimony.com, was subscribed 4.41 times on the final day of the sale on Wednesday.

Also, Capacit’e Infraprojects Ltd, a Mumbai-based construction firm, which launched its initial share sale on Wednesday, saw its offering subscribed 1.32 times at the end of the first day of the sale.

According to stock exchange data at 7pm, the portion of Matrimony.com’s shares reserved for institutional investors was subscribed 1.88 times, while that reserved for non-institutional and retail investors saw subscriptions of 41% and 17.99 times, respectively.

The firm priced shares in the range of Rs983-985 per share.

The Rs500 crore IPO comprises a fresh issue of shares aggregating up to Rs130 crore and an offer for sale of up to 3.7 million shares. The offer for sale will see Matrimony’s investor Bessemer Venture Partners make a complete exit from the company, while venture capital firm Mayfield will sell part of its stake.

Matrimony.com will use proceeds from the share sale for advertising and business promotion, purchase of land for construction of an office in Chennai, and repayment of overdraft facilities.

Meanwhile, exchange data showed that the portion of Capacit’e Infraprojects shares reserved for institutional and retail investors were subscribed 1.77 times and 1.58 times, respectively. The portion of shares reserved for non-institutional investors was subscribed only 11%.

Capacit’e Infraprojects has priced its shares in a band of Rs245-250 for the IPO. The Rs400 crore IPO will see the company dilute 24% stake. The share sale will close on 15 September.

The company plans to use the funds for working capital requirements, purchasing capital assets and general corporate purposes.

This article was first published on LiveMint.com

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.