IndiaMART makes strong debut

about 1 year ago
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After a long time, a brand new listing on the bourses today – IndiaMART InterMESH and it has made a strong debut. On the BSE, it got listed at Rs.1180 v/s IPO price of Rs.973. It has spurted higher since then and is now at Rs.1301 levels.

One of the biggest B2B marketplaces, the IPO had received a very good response. Opening between June 24-26, it was subscribed 36.21 times – it received bids for more than 9.74 crore shares v/s IPO size of 26.92 lakh shares.

In our “IPO Analysis” we had advised readers to go for it with a short term perspective. We had said, “For the short term, one can apply in the IPO given strong core performance in FY19 and healthy revenue visibility for FY20. Over the medium term, quarterly result and operational parameters need to be tracked, while over the long term, close monitoring for 2 key risks is warranted - competitive behavior and evolving industry trends to gauge the inherent strength of the company.” For the long term, it remains under watch.

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