Infibeam plans to raise funds via IPO 28/07/2014

Infibeam plans to raise funds via IPO
28/07/2014 15:42
Online retailer Infibeam Inc is planning to raise Rs 500-1,000 crore (USD 83-166 million) through an Initial Public Offering (IPO) in India, the company’s Founder and CEO Vishal Mehta told VCCircle, reported Sainul K Abudheen, VCCircle. The company is estimating the value of Rs 2,500-3,000 crore, he added. “We are looking at India to float the issue since it is our primary market,” said Mehta. Infibeam has appointed Axis Capital and Kotak Investment Bank to manage the IPO, as per the media reports. According to media reports, this would make it the first e-commerce company to go public in India. Earlier, the parent of HomeShop18 had filed documents to float an IPO in the US.

Infibeam eyes to raise up to $166M via IPO 28/07/2014

Infibeam eyes to raise up to $166M via IPO
28/07/2014 14:59
Ahmedabad-based Infibeam Inc, the company behind the consumer e-commerce venture Infibeam.com and B2B e-commerce platform Build A Bazaar, is looking to raise Rs 500-1,000 crore (USD 83-166 million) through an Initial Public Offering (IPO) in India in the next couple of quarters, its founder and CEO Vishal Mehta told VCCircle, reported Sainul K Abudheen, VCCircle. The firm is aiming at a valuation of Rs 2,500-3,000 crore (up to USD 500 million), he added. “We are looking at India to float the issue since it is our primary market,” said Mehta. Mehta added that the IPO proceeds will be used to grow its business in the domestic and international markets. “We see huge potential for our platform business in global markets, as it is extremely scalable and supports multiple languages & currencies,” he added. He added the company is in talks with a few merchant bankers, though he declined to share the names. Earlier, The Economic Times had reported that Infibeam has appointed Axis Capital and Kotak Investment Bank as the bankers to the proposed issue. According to media reports, this would make it the first e-commerce firm to go public in India. Earlier, the parent of HomeShop18 had filed documents to float an IPO in the US. The parent firm of lifestyle e-tailer Koovs had got listed in London’s AIM exchange.