India’s First Internet Stock Naukri To List Tomorrow: "India’s first pure play internet stock - InfoEdge Ltd - will be listing tomorrow as its founder Sanjeev Bikhchandani rings the opening bell at the Bombay Stock Exchange. The listing price is Rs 320, the higher end of the band (Rs 290-320). The IPO of the owners of portals like Naukri.com, Jeevansathi.com and 99acres.com was oversubscribed 55 times. At the higher end of the band, the company will be raising Rs 174 crore.
The issue would constitute 19.50 per cent of the fully-diluted post issue paid-up capital of the company. The market cap at Rs 320 a share will be about Rs 900 crore. It’s a big day for Sanjeev Bikhchandani, CEO and founder of InfoEdge, who owns 43.23 per cent stake in the company.
ICICI Securities and Citigroup Global Markets India were the lead managers for the issue, while Intime Spectrum Registry was the registrar.
Related:
-Naukri IPO Oversubscribed 55 Times
Monday, November 20, 2006
India’s First Internet Stock Naukri To List Tomorrow [Re-post from ContentSutra]
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