Infibeam to raise Rs 4500 million in IPO – files draft red hearing prospectus with SEBI

Ahmadabad based online shopping portal, Infibeam incorporation limited has filed draft red hearing prospectus with SEBI on 30th June 2015 to raise Rs 4500 million (Rs 450 Crore) through Initial public offering.

infibeam

Infibeam will be using the net proceeds out of this IPO towards funding following objects;

  • Setting up of cloud data centre and purchase of property for shifting and setting up of registered and corporate office of our Company
  • Setting up of 75 logistics centres;
  • Purchase of software; and
  • General corporate purposes.

For Setting up of cloud data centre and purchase of property for shifting and setting up of registered and corporate office of the Company, infibeam has proposed to use an estimated amount of Rs 2352 million. Similarly for setting up of 75 logistics centers and purchase of software, infibeam has estimated the cost to be Rs 375 and Rs 670 million respectively.

The lead bankers to this IPO issue are SBI Capital Markets, Elara Capital, ICICI Securities and Kotak Mahindra Capital Company Limited.

Infibeam Incorporation Limited, a public company incorporated under the Companies Act and having its Registered Office at 9th Floor, “A” wing, Gopal Palace, Opposite Ocean Park, Nehrunagar, Satellite Road, Ahmedabad -380 015. It competes with other online shopping portals like Flipkart, Amazon and Snapdeal.

Infibeam also own and operate the Infibeam BuildaBazaar (BaB) e-commerce marketplace, which provides cloud-based, modular and customizable digital solutions and other value added services to enable merchants to set up online storefronts. It enables merchants to access customers across multiple sales channels and provides cost-effective marketing and distribution solutions. The company claims that as of March 31, 2015, they had 33,489 registered merchants, increasing at a CAGR of 357.40% from 350 registered merchants as of March 31, 2012.

InterGlobe Enterprises, which runs the country’s biggest airline IndiGo and staffing firm Teamlease has also filed their read hearing prospectus with Securities & Exchange Board of India (Sebi) to float their respective IPOs.

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