Matrimony.com’s relationship with its investor community began on Thursday with a wild rollercoaster ride.
Opening at the issue price of ₹985 on the NSE, the stock tumbled 9.5 per cent, rose to an intra-day high of ₹1,024, and finally closed at ₹904.65, down 8.16 per cent.
However, for retail investors, the offer price was fixed at ₹887, at a discount of 10 per cent to the issue price.
About 7.24 lakh shares were traded on the BSE and a little over 33 lakh shares changed hands on NSE.
The company’s ₹500-crore IPO was subscribed 4.44 times. The qualified institutional buyers portion was subscribed 1.88 times, non-institutional investors 41 per cent and retail investors 18.16 times.
Matrimony.com, which runs an online match-making business under the BharatMatrimony brand, raised ₹226 crore by allotting 22.93 lakh shares to anchor investors, who include Smallcap World Fund, HDFC Trustee Company, Baring Private Equity India AIF, BNP Paribas Arbitrage, Goldman Sachs India and DB International (Asia).
BNP Paribas Arbitrage fund sold 1.34 lakh shares at an average of ₹957.47 on Thursday.