Online shopping portal Infibeam is expected to raise Rs 450 crore via IPO on March 21.For the IPO, it has fixed the price band at Rs 360-432 per equity. It will become the first e-commerce firm to tap the IPO route.
As per the latest update available with capital markets regulator Securities and Exchange Board of India, the initial public offer will conclude on March 23. Infibeam has proposed to list its shares on NSE and BSE. SBI Capital Markets and Elara Capital India are managing the issue of the shopping portal.
The e-commece portal is planning to set up cloud data centre and shift and set up registered and corporate office of the company. It will also be allocating funds for setting up 75 logistics centres, purchasing software and for other general corporate purposes.
Infibeam was started in 2007 and it runs many e-commerce services like Infibeam.com, BuildaBazaar, Incept and Picsquare. Major competitors of Infibeam in the e-commerce space are Flipkart, Amazon and Snapdeal.