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Ecommerce

Infibeam files for IPO in ecommerce listing

Thursday 2 July 2015 | 02:16 PM CET

Online retailer Infibeam has filed a draft prospectus for an initial public offering (IPO) to raise USD 70.69 million.

Launched in 2007, Infibeam runs the infibeam.com and BuildaBazaar.com websites. In 2014, Sony Music bought a 26% stake in Indent, the company's digital entertainment arm.

The company will use the IPO proceeds for expanding business, including setting up a cloud data unit and 75 logistics centres.

Other than anchor investors, all potential investors can join in this issue through an application supported by blocked amount (ASBA) process providing details of their respective bank account which will be blocked by the concerned banks.

More: Link
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