Shaadi.com owner People Group mulls public listing
Popular marriage portal Shaadi.com's owner People Group has proposed to dilute up to 20 per cent of its equity stake through an initial public offering (IPO).
By PTI |
MUMBAI: Popular marriage portal Shaadi.com's owner People Group has proposed to dilute up to 20 per cent of its equity stake through an initial public offering (IPO).
Anupam Mittal-led multi-brand consumer Internet company People Group, which also own brands like Fropper.com, Makaan.com and Astrolife.com, is planning to tap the market in 2009 to help raise funds for growing inorganically and go beyond the boundaries of the country.
"We plan to go for an Initial Public Offering in 2009 to dilute 15-20 per cent stake in the Group. This, will, however, depend on the prevailing market condition at that time. It (the listing) is in its early stages of exploration. We are thinking on that line," People Interactive's Chairman and Managing Director Anupam Mittal told PTI here.
People Group is also a leading player in the mobile VAS space through its company People Infocom. It is also involved in film and television production and event managemnet through subsidiary companies, People Pictures, Purple Media and PEP Management, respectively.
Mittal said the plan to list the Group is aimed mainly at unlocking value and giving a true sense of its value.
"It's an important benchmark and not just making way for capital availability," Mittal said, adding that there could be some pre-IPO placement as well.
Meanwhile, Venture Capital fund Sequoia capital has picked up a minority stake in the company, Mittal said, without divulging the percentage.
Anupam Mittal-led multi-brand consumer Internet company People Group, which also own brands like Fropper.com, Makaan.com and Astrolife.com, is planning to tap the market in 2009 to help raise funds for growing inorganically and go beyond the boundaries of the country.
"We plan to go for an Initial Public Offering in 2009 to dilute 15-20 per cent stake in the Group. This, will, however, depend on the prevailing market condition at that time. It (the listing) is in its early stages of exploration. We are thinking on that line," People Interactive's Chairman and Managing Director Anupam Mittal told PTI here.
People Group is also a leading player in the mobile VAS space through its company People Infocom. It is also involved in film and television production and event managemnet through subsidiary companies, People Pictures, Purple Media and PEP Management, respectively.
Mittal said the plan to list the Group is aimed mainly at unlocking value and giving a true sense of its value.
"It's an important benchmark and not just making way for capital availability," Mittal said, adding that there could be some pre-IPO placement as well.
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Meanwhile, Venture Capital fund Sequoia capital has picked up a minority stake in the company, Mittal said, without divulging the percentage.
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