Infibeam to make stock market debut on Monday

New Delhi: E-commerce firm Infibeam Incorporation, which has raised Rs 450 crore through initial public offer (IPO), will list its shares on stock exchanges - BSE and NSE - on Monday.

It will become the first e-commerce player in the country to make stock market debut.

The IPO, which opened from March 21-23 was subscribed 1.11 times at a price band of Rs 360-432 per share.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 86 per cent and non-institutional investors received 2.23 times subscription. Retail investors category was subscribed 1.31 times.

"Effective from Monday, April 4, 2016, equity shares of Infibeam Incorporation shall be listed and admitted to dealings on the exchange in the list of 'B' Group of securities," BSE said in a circular.

Started in 2007, Infibeam runs several e-commerce services like Infibeam.Com, BuildaBazaar, Incept and Picsquare.

Infibeam plans to utilise the IPO proceeds towards setting up of a cloud data centre and shifting and setting up of registered and corporate office of the company.

In addition, the funds will be used for setting up of 75 logistics centres, purchase of software and for other general corporate purposes.