Infibeam to hit markets on March 21; seeks up to Rs 450 crore via IPO

Online shopping portal Infibeam Incorporation will hit the capital markets on March 21 to mop-up Rs 450 crore through an initial share plan, becoming the first e-commerce firm to tap the IPO route.

The company has fixed the price band at Rs 360-432 per equity share for the IPO.

The initial public offer (IPO) will conclude on March 23, as per the latest update available with capital markets regulator Securities and Exchange Board of India (Sebi). As per Draft Red Herring Prospectus, Gujarat-based Infibeam plans to come out with public issue of equity shares worth up to Rs 450 crore.

Infibeam competes with Flipkart, Amazon, Snapdeal and others in the e-commerce space.

The capital markets watchdog had already announced a new set of easier norms for listing of startups on a separate platform of stock exchanges. However, Infibeam has decided to go for listing on the main board.

Started in 2007, Infibeam runs several e-commerce services like Infibeam.com, BuildaBazaar, Incept and Picsquare. It has proposed to list its shares on the NSE and BSE. The issue is being managed by SBI Capital Markets and Elara Capital India.

Infibeam plans to utilise the IPO proceeds towards setting up of cloud data centre and shifting and setting up of registered and corporate office of the company. Besides, the funds will be used for setting up of 75 logistics centres, purchase of software and for other general corporate purposes.

Apart from Infibeam, two companies, HealthCare Global Enterprises (HCG) and Bharat Wire Ropes, will hit the capital markets this week.

Besides, three firms - Quick Heal Technologies, TeamLease Services and Precision Camshafts - have already hit the Dalal Street so far this year.

Virtual reality set to transform filmmaking

Chris Milk stepped onto a TED Conference stage and took the audience on an awe-inducing trip into the future of movies. While much of the early attention on virtual reality has focused on use of the immersive technology in video games, Milk and his US startup Vrse are using it to transform storytelling and filmgoing. "We have just started to scratch the surface of the true power of virtual reality," Milk said. "It's not a video game peripheral. It connects humans to other humans in a profound way... I think virtual reality has the potential to actually change the world." He had everyone in the Vancouver audience at TED , which ended Friday, hold Google Cardboard viewers to their eyes for what was billed as the world's collective virtual reality experience. Google Cardboard gear is literally that -- cardboard

10 Smartphones with Features that You Won't Find in Any Other Phone

Here’s a list of phones which are first-of-their-kind. From feature phones to smartphones, flat screen to curved, fragile to shatterproof, mobile phones have evolved over the years. Although many industry analysts would like to call the current level of innovation reaching a stagnation point, there still are some manufacturers which have been able to surprise consumers by truly packing something different in their smartphones. We have compiled a list of phones which offer first-of-its-kind features, and they are not merely concepts. 1. Motorola X force - Shatterproof display Display today is the most vulnerable yet the most neglected element in modern smartphones. But Motorola finally paid heed to the fragile screen with the launch of the the Motorola X Force – the world’s first smartphone with a shatterproof display. The phone uses the Moto ShatterShield display technology, which is said to be an integrated system consisting of five layers designed from material...

10 years of Twitter: Key milestones in the micro-blogging site's decade-long history

Over its 10-year history, Twitter has marked numerous world events and created its own unique moments. Here are a few key milestones in Twitter history: just setting up my twttr — Jack (@jack) March 21, 2006 March 2006: Twitter co-founder Jack Dorsey (@jack) sent the first tweet, an automated message saying "just setting up my twttr." That same day, he sent the first live tweet, "inviting coworkers." Arrested — James Buck (@jamesbuck) April 10, 2008 April 2008: US university student James Buck (@jamesbuck) got off a one-word tweet "Arrested" after being taken into custody by Egyptian authorities at an anti-government protest in that country. In what is seen as an early demonstration of the power of Twitter to rally people to a cause, the resulting outcry prompted authorities to quickly restore his liberty. He proclaimed his release in a tweet reading "Free." http://twitpic.com/135xa - There's a plane in the Hudson. I'm ...

IntellectBeat

Search This Blog