Infibeam to raise Rs 450 crores through IPO

Online portal Infibeam Incorporation will go public on March 21 to mop-up Rs 450 crore through an initial share plan. It becomes the first e-commerce firm to tap the Initial Public Offer (IPO) route. The price band has been fixed at Rs 360-432 per equity share for the IPO. The IPO will conclude on March 23 as per the latest update available with capital markets regulator Securities and Exchange Board of India (Sebi). Gujarat-based Infibeam competes with Flipkart, Snapdeal and others.