Under the harsh scrutiny of the bourses, it was expected that Infibeam’s IPO would provide signs as to what the markets really thought of the Indian e-commerce sector.
Infibeam is all set and running on India’s stock markets. After its much talked about IPO that concluded last week, the company started trading on the National Stock Exchange on Monday, and got off to a steady start.
Infibeam’s much-awaited IPO was fully subscribed on the third day as the company successfully managed to raise the 450 crore that it had set out to do. Though interest in the IPO was muted, Infibeam created history by becoming the first Indian e-commerce company to go public.
An ugly controversy has put a dampener on Infibeam’s IPO on the very first day. Factor Daily has reported that a large section of twitter users were being paid to show their enthusiasm for the event.
Infibeam’s IPO, the first ever by an Indian e-commerce company, has got off to a sedate start. Day 1 of the IPO, which will run from 21st to 23rd March, saw 21% of shares on offer being snapped up by investors. Infibeam is trying to raise Rs. 450 crore and dilute 20% of its equity through this stock sale.