Indiamart plans to raise up to $89m through IPO

Dinesh Agarwal, founder and CEO, Indiamart.com. Some of the investors of the company could sell part of their stakes.

Indiamart.com, one of the largest online listing platforms for small and medium businesses in India, will soon file draft papers for its initial share sale, two people aware of the development said.

The proposed initial public offering (IPO) could see the company raise as much as ₹600 crore, said the first of the two people cited above, on the condition of anonymity, as he is not authorized to speak to reporters.

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