People Interactive India Pvt., operator of the popular local marriage matchmaking service Shaadi.com, is preparing for an initial public offering, according to people familiar with the matter.
The Mumbai-based firm has held discussions with investment bankers in recent weeks to explore a listing, the people said, asking not to be identified as the information is private. The talks are still at an early stage, and the company hasn’t yet appointed advisers, they said.
Shaadi, which means wedding in Hindi, is among India’s oldest and largest digital matrimonial services. It competes against the likes of Matrimony.com Ltd., which went public in 2017, and Jeevansathi.com parent Info Edge India Ltd.
Deliberations are ongoing, and details — including the valuation, timing and structure of the offering — are still being decided. People Interactive didn’t respond to a request for comment.
IPO proceeds in India have topped $19 billion this year, and could challenge last year’s record of almost $21 billion, according to data compiled by Bloomberg, as local companies continue to pursue going public in one of the world’s hottest markets for new listings.
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