Intel Capital will sell shares in an initial public offering in which e-commerce marketplace IndiaMart is expected to raise up to $88m.
India-based e-commerce marketplace IndiaMart has filed for an initial public offering in its home country, in which semiconductor technology provider Intel will sell shares.
The company plans to issue 4.28 million shares. Intel’s corporate venturing arm, Intel Capital, owns a 13.5% stake and will sell 2.07 million shares. Although IndiaMart has not yet priced the IPO, LiveMint reported last month that it planned to raise between $73.5m and $88.2m.
The other selling shareholders are microfinance investor Accion’s Frontier Inclusion Mauritius…
