Infibeam beats Flipkart, files for Rs 450 cr IPO

infibeam Infibeam Incorporation Ltd, which some call the fourth or the fifth biggest online portal in India, has filed for a Rs 450 cr initial public offer with the markets regulator. With this, the company has beaten Flipkart, which was widely expected to be the first online shopping portal to go public, to the bourses.

Infibeam.com is based in Ahmedabad in Gujarat, and operates through a hybrid model, though most of its merchandise is sold by third party sellers.

Infibeam would get a major boost if it manages to raise funds as they would help the company establish its own godowns and sell directly, instead of having to rely on third party sellers as foreign-funded ecommerce players have to.

Infibeam.com has filed a Draft Red Herring Prospectus offering shares of Rs 10 each for cash.

The Equity Shares will be listed on the BSE and the NSE.

The Global Coordinators & Book Running Lead Managers to the Issue are SBI Capital Markets Limited, ICICI Securities Limited and Kotak Mahindra Capital Company Limited and the Book Running Lead Manager to the Issue is Elara Capital (India) Private Limited.

The company, along with its subsidiaries, own and operate the Infibeam BuildaBazaar e-commerce marketplace, which provides cloud-based, modular and customizable digital solutions and other value added services to enable merchants to set up storefronts.

As part of its integrated e-commerce ecosystem, it also, along with its subsidiaries, operate Infibeam.com, one of India’s leading multi-category e-retailers. Its integrated business model enables it to provide comprehensive, multi-channel and multi-screen value added services to merchants.

The Issue is being made through the Book Building Process wherein at least 75% of the Issue shall be Allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”) and our Company may allocate up to 60% of the QIB Portion to Anchor Investors.

on a discretionary basis, not more than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Issue shall be available for allocation to Retail Individual Bidders.