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( As on 01/09/2017 00:21) IPO likely to open on Sep 11

The initial public offer of Matrimony.Com, which runs online match making business under BharatMatrimony brand, is likely to open on September 11, reported PTI.

The issue of Matrimony.Com is expected to raise Rs 500 crore, sources said.

The company's initial share sale offer is likely to open from September 11-13, they added.

The IPO comprises fresh issue aggregating up to Rs 130 crore and an offer for sale of up to 3,767,254 equity shares.

Proceeds from the issue will be utilised for advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes.

The equity shares of the company are proposed to be listed on the BSE and the NSE.

Around two dozen companies have filed preliminary papers for initial public offers (IPOs) with the regulator Sebi so far this year.

So far in 2017, a total of 17 companies, including BSE, Avenue Supermarts, Housing and Urban Development Corporation (HUDCO), Eris Lifesciences and Cochin Shipyard, mopped-up more than Rs 12,000 crore through initial share-sale offers.