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25 September 2017

Hot Pursuit

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22-Sep-2017 (15:43)
Matrimony.com tumbles after poor debut

Meanwhile, the S&P BSE Sensex was down 447.60 points, or 1.38% at 31,922.44. The S&P BSE Small-Cap index was down 491.79 points, or 2.93% at 16,293.03.

On the BSE, 1.74 lakh shares were traded on the counter. The stock had hit a high of Rs 888 and a low of Rs 802.65 during the day.

Shares of Matrimony.com had opened at Rs 985 yesterday, 21 September 2017, matching its issue price. The stock settled at Rs 901.20 on BSE, a discount of 8.51% over the issue price of Rs 985 on its debut on the stock exchanges yesterday, 21 September 2017.

The initial public offer (IPO) of Matrimony.com received bids for 1.24 crore shares as against 28.11 lakh shares on offer. The IPO was subscribed 4.44 times. The company had fixed the price band of the IPO at Rs 983-985 per share. The IPO opened on 11 September 2017 and closed on 13 September 2017.

Category wise, the qualified institutional buyers (QIBs) category was subscribed 1.88 times. The non institutional investors (NIIs) category was subscribed 0.41 times. The retail individual investors (RIIs) category was subscribed 18.16 times.

Ahead of the IPO, the IPO committee of the board of directors of Matrimony.com on 8 September 2017, finalised allocation of 22.93 lakh shares to 10 anchor investors at Rs 985 per share aggregating to Rs 225.88 crore. The anchor investors included Small Cap World Fund, Goldman Sachs India, HDFC Trustee Company and Baring Private Equity India among others.

The IPO of Matrimony.com comprised of a fresh issue of shares aggregating up to Rs 130 crore and an offer for sale of up to 37.67 lakh equity shares by the selling shareholders.

The proceeds of the IPO would be utilized for advertising & business promotion activities, purchase & development of office premises in Chennai, repayment of overdraft facilities, procurement of hardware & software requirements and general corporate purposes.

Matrimony.com's consolidated net profit rose 53.25% to Rs 14.62 crore on 17.1% rose in total income to Rs 84.79 crore in Q1 June 2017 over Q1 June 2016.

Matrimony.com is the leading provider of online matchmaking services in India in terms of the average number of website pages viewed by unique visitors in June 2017. Company's brand, BharatMatrimony.com and other matchmaking brands such as CommunityMatrimony.com and EliteMatrimony.com are well- established in India.

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