India's Matrimony.com Planning To Go Public

(RTTNews) - India-based match-making portal Matrimony.com is planning to go public and looks for a valuation of $450-500 million, reports said.

Matrimony.com is expected to file a draft red herring prospectus or DRHP with the Securities and Exchange Board of India in the coming two months.

The Chennai-based firm, known for its Bharatmatrimony.com website, was founded in 1997. It was previously known as Consim Info.

The company received its initial funding from Draper International which still has shares in the firm. It is supported by Silicon Valley venture capital investors like Canaan Partners, Mayfield and Bessemer Venture Partners.

Yahoo! Inc. (YHOO) and Canaan Partners were the initial investors in the company, having made their investment way back in 2006. Yahoo! exited Matrimony.com in October 2011, by selling its shares to Bessemer.

The company is said to have hired Citigroup Global Markets, Deutsche Bank and Kotak Mahindra Capital as investment bankers for the initial public offering.

If Matrimony.com proceeds with the IPO, it will be the first by an Indian internet company after Justdial got listed in June 2013.