People Interactive India Pvt. Ltd., the operator of Shaadi.com, is preparing for an initial public offering, as Founder CEO Anupam Mittal looks to join fellow “Shark” Peyush Bansal (Lenskart Solutions Ltd.) at the Dalal Street.
The matrimonial website has held IPO discussions with investment bankers in recent weeks to explore a listing, Bloomberg News reported on Thursday, citing people aware of the development. They spoke on the condition of anonymity since the information is private. The talks are still at an early stage. The company hasn’t yet appointed advisers.
Deliberations are ongoing, and details—including the valuation, timing and structure of the offering—are still being decided. People Interactive didn’t respond to a request for comment.
HT.com has not independently verified this information.
Shaadi.com is among India’s oldest and largest digital matrimonial services. It competes against the likes of Matrimony.com Ltd., which went public in 2017, and Jeevansathi.com parent Info Edge India Ltd.
Talks of a Shaadi.com IPO also come at a time when Mittal’s fellow judge on ‘Shark Tank India’ Peyush Bansal has taken Lenskart public even as Aman Gupta’s BoAT IPO waits in the wings.
IPO proceeds in India have topped $19 billion this year, and could challenge last year’s record of almost $21 billion, according to Bloomberg data, as local companies continue to pursue going public in one of the world’s hottest markets for new listings.