India's largest online B2B marketplace for business product and services, IndiaMART lists on the exchanges today. CNBC-TV18’s Reema Tendulkar shares more details on the listing.
The issue price for IndiaMART has been fixed at the upper end of the price band at Rs 973. It was a Rs 475 crore issue and it saw very strong demand. The total issue was subscribed 36 times with the qualified institutional buyer (QIB) portion at 31 times, high net-worth individuals (HNI) at 62 times while the retail investors oversubscribed it by nearly 14 times.
The buzz is that there is a grey market premium as well, which means the stock could see a premium of more than 10 percent at the listing.
IndiaMART is India’s largest online B2B market place for business product as well as services. So up until now the listings that we have seen in the Indian markets, whether it is Naukri or InfoEdge, are all B2C whereas this is the first B2B business to get listed.
The company has over 60 percent market share in the online B2B classifieds space in India and 55 lakh suppliers on its platforms. The key is the paying subscribers and that has seen a growth of about 21 percent in the last few years.
The revenue growth from FY14 to FY19 has averaged about 26 percent and for FY19 its revenue, on the whole, stood at Rs 507 crore.