Infibeam Incorporation Ltd, the Gujarat based startup has completed the needed formalities with SEBI (Securities & Exchange Board of India) and is all set to go IPO way.
In the initial target, Infibeam, which was founded in 2007 by Vishal Mehta, Sachin Dalal & Neeru Sharma is planning to raise around $70 Million through NSE (National Stock Exchange) & BSE (Bombay Stock Exchange).
Infibeam is known for its innovative approach towards providing the cloud based solutions in B2B and B2C verticals. Currently infibeam owns eCommerce stores like Indent, BuildaBazaar, Incept and Picsquare.
The raised funds will be used mainly in developing more data centers, logistics center, purchasing software and general corporate purposes.
More details on the IPO listing and Infibeam going live on the Indian stock Exchange are still awaited and we will keep you updated as and when there are some updates.