People Interactive India Pvt., the company behind the widely used matrimonial platform Shaadi.com, is preparing for a potential initial public offering, according to people familiar with the matter.
The Mumbai-based firm has held preliminary discussions with investment bankers in recent weeks to evaluate a possible market listing, the sources said, requesting anonymity as the information is private. No advisers have been formally appointed yet, they added.
One Of India’s Oldest Digital Matrimonial Platforms
Shaadi.com, whose name translates to “wedding” in Hindi, is among India’s earliest and most established online matchmaking services. The platform competes with Matrimony.com Ltd., which listed in 2017, as well as Info Edge India Ltd., the parent company of Jeevansathi.com.
Listing Structure And Valuation Yet To Be Finalised
Deliberations remain ongoing, and decisions regarding the offer size, valuation, timing and structure have not been finalised. People Interactive did not respond to a request for comment.
India’s IPO Market Continues To Surge
IPO fundraising in India has surpassed $19 billion so far this year and may challenge last year’s record of nearly $21 billion, according to Bloomberg data, as domestic companies continue to tap one of the world’s most active markets for new listings.