Infibeam Plans to Raise as Much as $81 Million in E-Commerce IPO
- IPO seen as barometer for investor interest in sector
- Company is first of high-profile online retailers to go public
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Infibeam Incorporation Ltd. plans to raise as much as 5.4 billion rupees ($81 million) in an initial public offering as it becomes the first of India’s high-profile online retailers to proceed to a share sale.
The company is offering 12.5 million shares in a book build at 360 rupees to 432 rupees apiece. Promoters and investors hold 42.7 million shares with the whole company valued at less than $400 million, the Ahmedabad-based company said.