March 15, 2016

INFIBEAM hits the Primary Market with its IPO

Infibeam Incorporation Ltd, an e-commerce company based in Ahmedabad, plans to raise Rs. 450 crores with its IPO. The IPO will open on March 21 for 3 days and will be closed on March 23. As per the DRHP filed with SEBI, the company plans to apply the IPO proceedings for its expansion drive. One of the major applications of the IPO proceeds will be to invest approx. Rs. 230 crores for setting up a new corporate office and to establish a cloud data center at GIFT City.

The price band for the Initial Public Offering is Rs. 360 to Rs. 432 per equity share. Investors desirous of investing in the IPO can bid for the same - minimum of 34 equity shares and in multiples of 34 equity shares thereafter. The equity shares of Infibeam will be listed on NSE and BSE.

The equity share issue is being made with the Book Building Process wherein at-least 75% of the issue size shall be allotted on a proportional basis to QIBs (Qualified Institutional Buyers). Further, the company may allocate upto 60% of the QIB portion to its anchor investors on discretionary basis. A minimum of 5% of the QIB portion (which will exclude the allocation to the anchor Investors) will be available for proportional allotment to Mutual Funds only. The remaining QIB Portion will be available for proportional allocation to the other QIB Bidders, including Mutual Funds. The bids being received from QIBs which are received at or above the issue price will be eligible for   allotment. In case, the Company is not able to allot a minimum of 75% to QIBs, it will be refunding the application money received by it.

Further, Non-Institutional Bidders can be allotted a maximum of 15% of the Issue size on proportional basis and Retail Individual Bidders will be allotted a maximum of 10% of the issue. All these allotments will be in accordance with the SEBI regulations guided by Issue of Capital and Disclosure Requirements, 2009 as amended from time to time.






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