Infibeam Lists at 6% Premium to Issue Price of 432
timesinternet.in E T Ma r k e t s . c o m : Infibeam Incorporation, the first e-commerce debutant on the Dalal Street, received a positive response from investors, as the stock got listed at ₹ 458 on the BSE, a 6.01% premium to its issue price of ₹ 432.
By 10.05 am, the stock had risen to ₹ 463.85 on BSE, up 7.73% over its issue price. The scrip had a total sell orders of 78,209 shares against buy orders of 1,30,690 shares on the exchange. The ₹ 450-crore IPO was open for direct subscriptionbetweenMarch21andMarch 23 and was subscribed 1.1 times.
Incorporated in 2007, Infibeam has t wo major bus i n e s s e s — the BuildaBazaar (BaB) e-commerce marketplace (28% revenue) and e-retail website Infibeam.com (72% revenue). While BaB offers cloud-based, modular and customisable digital solutions and other value-added services to enable merchants to set up online storefronts, Infibeam.com is a multi-category eretailer.
The key strengths of the company include its strong merchant base in BuildaBazaar and high growth the company recorded in the e-tail business. BuildaBazaar provides digital solutions to 48,724 merchants. It helps merchants to set up online storefronts at an average monthly realisation of ₹ 1,650/merchant. Infibeam.com, on the other hand, has 5,000 registered merchants and 12 logistics centres across 11 cities.
The online shopper base is expected to improve from the present 35 million to 180 million by 2020, with increasing internet penetration.
Publisher’s Disclosure: BCCL and / or its subsidiaries holds 1.84% of the equity capital of Infibeam Incorporation Ltd, as on the date of filing of the DRHP with SEBI.
450-cr IPO was open between Mar 21 and Mar23, and was subscribed 1.1x