Infibeam Files For IPO; Plans To Raise 450 Crores

Ecommerce company Infibeam has filed DRHP (Draft Red Herring Prospectus) with SEBI. The Gujarat based company is planning to raise up to Rs 450 crore via the IPO route.infibeam

Apart from the ecommerce business, Infibeam also runs BuildABazaar (DIY ecommerce platform), Indent (Sony acquired 26% stake in Indent few years back), Incept and Picsquare.

Infibeam plans to use the 450 crores for setting up cloud data infra and 75 logistics center.

Interesting to note that Infibeam chose to go to the main boards and not the startup exchange platform.

Under the public offer, at least 75 per cent of shares would be allotted on a proportionate basis to qualified institutional investors (QIIs), while up to 60 per cent of this portion can be given to anchor investors on a discretionary basis.

Five per cent of the QIB portion (excluding the anchor investor portion) would be available for allocation on a proportionate basis to mutual funds only.

All potential investors, other than anchor investors, can participate in this issue through an application supported by blocked amount (ASBA) process providing details of their respective bank account which will be blocked by the concerned banks.

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