Shaadi.com, Anupam Mittal's matrimonial platform, considers IPO
What's the story
Shaadi.com, one of India's oldest and largest digital matrimonial services, is reportedly gearing up for an initial public offering (IPO). The Mumbai-based company has been in early-stage talks with investment bankers over the past few weeks to explore a potential listing. However, it's worth noting that these discussions are still at a nascent stage and no advisors have been appointed yet.
Market competition
Competition from other matrimonial services
Shaadi.com, which translates to wedding in Hindi, competes with other popular matrimonial services such as Matrimony.com Ltd. and Jeevansathi.com. The former went public in 2017 while the latter is owned by Info Edge India Ltd. Despite the stiff competition, Shaadi.com's potential IPO shows its confidence in India's thriving market for digital matrimonial services.
Market trends
IPO plans amid India's booming market
The talks of an IPO for Shaadi.com come as India continues to witness a surge in public offerings. So far this year, IPO proceeds in India have exceeded $19 billion and could surpass last year's record of nearly $21 billion, Bloomberg data shows. This trend indicates that local companies are keen on going public in one of the world's most active markets for new listings.