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People Interactive hopes to raise Rs 140-160 crore by diluting 10-15% stake

People Interactive, owner of matrimony portal Shaadi.com, social networking site Fropper.com, and real estate portal Makaan.com, plans to go public in the next 18 months to provide liquidity to existing shareholders and to build a war-chest for potential acquisitions.

People Interactive, owner of matrimony portal Shaadi.com, social networking site Fropper.com, and real estate portal Makaan.com, plans to go public in the next 18 months to provide liquidity to existing shareholders and to build a war-chest for potential acquisitions.

The company hopes to raise between Rs 140-160 crore by diluting a 10-15 per cent stake. During the IPO, Sequoia Capital, which has invested $8 million for a 20 per cent stake in People Interactive, is expected to pare its stake, reports DNA.

According to Anupam Mittal, chairman and managing director, People Interactive, the company has no plans of launching new sites and would focus on scaling up existing business. “An internet company doesn’t have to be present in all sectors. There are opportunities like in education, jobs, auto, travel, etc but, over the 12-18 months, we don’t see ourselves entering those spaces,” Anupam Mittal has said.

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