Bharat Matrimony.Com IPO & Online Match Making Industry

Bharat Matrimony ListingIndia’s largest online matrimony site Bharat Matrimony has filed its draft red herring prospectus (DRHP) to float its initial public offer. The company is looking to raise Rs 3500 mn ($54 mn) with issuance of 1.66 mn shares through a fresh issue along with partial exit from existing PEs/founder’s family. The proceeds will be used for 1) advertising and business promotion activities (Rs 1500 mn: spread over 3 years); 2) Purchase and development of office premises in Chennai (Rs 344 mn); 3) Repayment of overdraft facilities (Rs 287 mn) and 4) Procurement of hardware/software for a centrally controlled contact center (Rs 174 mn).

The online matchmaking industry is still at a nascent stage and accounts for approximately 4% of marriages in India. The online matchmaking industry in (more…)

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