Matrimony.com IPO gets subscribed 4.41 times on Day 3; retail quota at 18 times

QIB quota got subscribed 1.88 times, NII segment was subscribed 0.41 times. NSEBSEArihant CapitalLoading data…

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    ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIES Initial public offer of online match making portal Matrimony.com got subscribed 4.41 times till 7 pm on last day of the offer on Wednesday.

    The IPO received bids for 1,23,79,380 shares against the total issue size of 28,11,280 shares, data available with the NSE and BSE showed till 5.30 pm.

    QIB quota got subscribed 1.88 times, NII segment was subscribed 0.41 times while retail saw subscription of 17.99 times.

    As of June 30, 2017, the company had 140 retail centres distributed across India where customers can walk in and register on their websites.

    Its flagship brand, BharatMatrimony, has 15 language based domains under its umbrella. They also have other portals like Elite Matrimony, Community Matrimony, Matrimony Directory, Matrimony Photography, Matrimony Bazaar, Matrimony Directory and Matrimony Mandaps.

    Brokerage Arihant Capital said that the technology is evolving at much faster pace than anticipated and hence if company fails to keep pace with changing technology it could adversely impact its growth.

    The issue has been offered in a price band of Rs 983-985 per equity share.

    At the upper price band of Rs 985 the stock is available at P/E of 48 (x) based on FY17 annualised EPS. We have “3 star” rating for the issue, it said.

    IIFL Wealth expects the IPO proceeds to be gainfully utilised, leading to higher revenues from increased brand awareness and lower rentals and interest expenses.

    Focused expansion of its marriage services business through cross selling and assisted services could also help the company move up the value chain, it said.

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