Infibeam plans to raise funds through IPO

Ahmedabad-based e-commerce company Infibeam has decided to file its draft red herring prospectus with market regulator the Securities and Exchange Board of India by December as it plans to raise around Rs 500 to 1,000 crores funds through initial public offering (IPO).

Infibeam, which owns and operates e-commerce venture Infibeam.com and B2B e-commerce platform BuildABazaar, is targeting a market capitalisation of Rs 3,000 to Rs 4,000 crores. The platform witnesses around 80,000 transactions and aims to earn revenues of Rs 500 crores and gross merchandise sales of about Rs 2,000 crores for the current fiscal.

Infibeam would become the first Indian e-commerce company to go public in the country. The company has appointed Axis Bank to be the lead book runner for the IPO and is looking to list on both the National Stock exchange and BSE.

BuildaBazaar.com is Infibeam’s e-commerce platform where one can create its own online shopping store under one’s own URL within minutes. The vision behind BuildaBazaar is to empower small and medium businesses, entrepreneurs and individuals to give their business a much needed online presence.