IndiaMART Intermesh share price rises 8% on QIP launch
The share touched its 52-week high of Rs 9,951.95 on February 5, 2021 and and a 52-week low of Rs 1,641.20 on March 25. 2020.
February 18, 2021 / 09:57 AM IST
IndiaMART Intermesh share price rose more than 8 percent in the early trade on February 18 after the B2B marketplace launched a qualified institutional placement (QIP ) to raise around Rs 1,100 crore.
“The indicative issue price for the QIP is Rs 8,615 per equity share which is at a 4.97 percent discount to the SEBI floor price,” sources told Moneycontrol.
“The promoters may sell an additional 2 percent post the QIP to mop up liquidity which has been disclosed in the offer document," a second individual told Moneycontrol.
“ICICI Securities, Edelweiss and Jefferies are the investment banks working with the company on the proposed fund raise,” he added.
Also Read - IndiaMART Intermesh launches QIP to raise around Rs 1,100 crore; promoters may sell extra 2% post QIP
At 0931 hours, Indiamart Intermesh was quoting at Rs 9,160, up Rs 602.15, or 7.04 percent, on the BSE.
The share touched its 52-week high of Rs 9,951.95 on February 5, 2021 and and a 52-week low of Rs 1,641.20 on March 25. 2020. It is trading 7.96 percent below its 52-week high and 458.13 percent above its 52-week low.