Infibeam makes debut on bourses, lists at Rs 458

Mumbai: Shares of Infibeam Incorporation debuted on the stock exchanges today and listed at Rs 458 on BSE, a premium of 6 percent over its issue price of Rs 432.

The e-commerce firm, which has raised Rs 450 crore through the initial public offer (IPO) is the first e-commerce player in the country to make a stock market debut.
On NSE the shares were listed at Rs 453, a premium of 4.86 percent.

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

The IPO, which opened during 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.

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.