Infibeam to be India’s 1st e-commerce IPO

MUMBAI:

Infibeam

, the Ahmedabad-based company, is all set to be the first pure play e-commerce firm in India to be listed. Infibeam’s IPO, at a price band of Rs 360-432 per share, is slotted to open on March 21 and close on March 23. It could mobilize up to Rs 4,500 crore.

At the higher end of the price band, the company is eyeing a valuation of about $350 million. Infibeam, which competes with large e-commerce players like Flipkart, Amazon and Snapdeal, will use the money raised from the IPO to set up a cloud data centre and 75 logistics centres, and also to buy software, it said in its offer prospectus.

SBI Capital Markets and Elara Capital are managing the issue. Infibeam will be listed on NSE and BSE.