IndiaMart InterMesh

about 4 months ago
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IndiaMart InterMesh is in the limelight today morning, opening with a positive gap and rising up over 8.5% to Rs.9298.90. It is currently trading at Rs.9138 levels. Its 52-week high is at Rs.9951.95.

The stock is up on the company’s plan to launch a QIP to raise around Rs.1100 crore.

The issue was launched today  and the floor rice of the issue is set at Rs 9,065.61/share, a 5.92% premium to Wednesday's closing price.

The company said that the board may offer a discount of 5% on the floor price at its discretion.

The issue price will be determined by the company in consultation with the book running lead managers appointed for the issue.

The funds are being raised for potential acquisitions or inorganic growth opportunities.

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