Infibeam IPO to list shares on April 4 - Likely to list at discount

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Infibeam Incorporation to list shares on April 4

Infibeam Incorporation, which has raised Rs 450 crore through its initial public offer (IPO), will make stock market debut on April 4, the first e-commerce player in the country to get listed. The IPO, which opened from March 21-23, was subscribed 1.11 times at a price band of Rs 360-432 per share. Among other categories, the portion set aside for non-institutional investors received 2.23 times subscriptions while that of retail investors was subscribed 1.31 times. "...effective Monday, April 4, 2016, shares of Infibeam Incorporation shall be listed and admitted to dealings on the exchange in the list of 'B' Group of securities," BSE said in a circular. In another circular, NSE said shares of the company will be listed on the exchange with effect from April 4. Started in 2007, Infibeam runs several e-commerce services like Infibeam.com, BuildaBazaar, Incept and Picsquare. Infibeam plans to utilise the IPO proceeds towards setting up of a cloud data centre and shifting and setting up of registered and corporate office of the company. In addition, the funds will be used for setting up of 75 logistics centres, purchase of software and other general corporate purposes.