India: Infibeam's $67m IPO fully subscribed despite lukewarm investor interest

India: Infibeam's $67m IPO fully subscribed despite lukewarm investor interest

A file photo of founder Vishal Mehta. The Ahmedabad-based e-tailer, which aims to raise Rs450 crore from the share sale, has run into problems with two of the four domestic investment banks opting out on concerns over pricing and timing of the issue.

Infibeam Inc. Ltd’s Rs.450 crore initial share sale was fully subscribed on the last day of its initial public offering (IPO), which made it the first Indian online retailer to go public.

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