IndiaMART InterMesh has made a strong entry to the exchanges on Thursday, listing at a 23 percent premium to its issue price.

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IndiaMART’s shares opened at Rs 1,201 per share on the NSE, up 23.4 percent from the issue price of Rs 973. Intraday, the stock rose as much as 26.4 percent from its issue price to Rs 1,230 per share.

The initial public offering of IndiaMART InterMESH, an online marketplace for business products and services, was subscribed 36.16 times on the final day of bidding on June 26. The Rs 475-crore IPO had a price band of Rs 970-973 per share.

Edelweiss Financial Services, ICICI Securities and Jefferies were the managers to the offer.

IndiaMart InterMesh had earlier raised more than Rs 213 crore from anchor investors. ICICI Mutual Fund, HDFC Mutual Fund, SBI Mutual Fund, Birla Mutual Fund, Hornbill Capital Advisers LLP are among the 15 anchor investors.

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First Published:Jul 4, 2019 10:10 AM IST