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India’s oldest e-commerce firm’s IPO is a rare way out for investors

Sangeeta Tanwar
India’s oldest e-commerce firm’s IPO is a rare way out for investors

India is set for the first initial public offering (IPO) since prime minister Narendra Modi’s return to power last month. IndiaMART InterMESH, which runs Indiamart.com, a business-to-business (B2B) online marketplace connecting wholesale buyers with suppliers, is looking raise up to Rs475 crore ($68 million) from the three-day IPO beginning today (June 24). The IPO is an exit route for venture capital (VC) investors Intel Capital, Amadeus Capital Partners, and Quona Capital—all three of which are looking to trim their cumulative 24% stake in IndiaMART.