The Indian internet and e-commerce conglomerate Infibeam is going public, having secured approval from SEBI last year in October. The company’s IPO is likely to hit the market on 21st March, 2016 and size of the IPO is going to be Rs 450 cr, reported ShubhAngel. Infibeam will have the distinction of being the first ever e-commerce and online retail company to launch its IPO. 

After consulting with its merchant bankers, including SBI Capital Markets, ICICI Securities, Kotak Mahindra Capital Co. and Elara Capital, the company has decided to launch the issue.

As reported by TOI earlier, out of the total, Rs 235 cr will be used to setup data centres, about Rs 37 cr will be used for putting up logistic centres, and another Rs 67 cr for purchases of software. The rest of the mop-up will be for general corporate purposes, said Vishal Mehta, MD, Infibeam in his interview in October. “We will launch the IPO in the next few months, after consulting with our merchant bankers,” he said.

While Flipkart and Snapdeal have been raising funds from private equity players at sky-high valuations and burning cash, Infibeam has preferred  to raise from the public instead of private equities and venture capital funds.

Infibeam is looking to turn around things with its IPO and adopt a new strategy. Infibeam has been sustaining losses for last three consecutive years.