IndiaMART all set to go for an IPO

IndiaMART, an online marketplace that assists Small & Medium Enterprises (SMEs), Large Enterprises and individuals to trade with each other has filed draft for its public market foray to market regulator. As per the media resources the company is expected to offer up to 4.28 million shares through its offer for sale, with its promoters and investors selling a portion of their stakes in the 23-year-old venture in the issue.

According to a statement issued by the company, Intel Capital will sell 2.07 million shares, while Amadeus IV DPF, an investment unit of Amadeus Capital, and Accion Frontier Inclusion Mauritius, will sell 1,70,502 and 4,75,000 equity shares, respectively. Additionally, promoters Dinesh Chandra Agarwal and Brijesh Agarwal will offer 8,52,453 and 5,77,656 shares in the IPO.

ICICI Securities, Edelweiss Financial Services and Jefferies India are the book running lead managers to the issue, the press release said. The Times Group, which publishes The Economic Times, is also an investor in the company.