B2B e-commerce company Infibeam Incorporation Ltd will hit the primary capital markets next Monday with its Rs 450-crore public offer, making it the first e-commerce company to go public. The company will issue equity shares of face value of Rs 10 each at a price band of Rs 360-432 a share.
Infibeam will use the IPO proceeds to set up a cloud data centre and shift and set up a registered and corporate office of the company. Besides, the funds will be used for setting up of 75 logistics centres, purchase of software and for other general corporate purposes.
The bid/offer period is March 21-23. The minimum bid lot is 34 equity shares and thereafter in multiples of 34. The shares are proposed to be listed on the BSE and NSE. Only 10 per cent of the issue is reserved for retail investors since the company does not satisfy capital market regulator SEBI's profitability criterion for companies going public.
SBI Capital Markets and Elara Capital are the merchant bankers to the issue.