The refiling of the DRHP comes almost five months after the company decided to abandon its IPO proposal and the DRHP it has submitted earlier. Sources said that the decision to scrap the IPO then was the slow down in the market. Some of the investors who were planning to sell during the previous attempt are not expected to sell their stake this time, while some others have joined the plan to sell stake through the new IPO.
The company has private equity investors including Mayfield, Bessemer and JPMorgan Asset Management invested into its business. JP Morgan Asset Management has recently bought out stake in the company from Canaan Partners.
Matrimony.com is managing BharatMatrimony.com and CommunityMatrimony.com. It claims to be one of the fastest growing and profitable organisations in both the digital and offline space. Over the years, it has initiated several new business models, such as AssistedMatrimony.com, EliteMatrimony.com and CommunityMatrimony.com.
The company launched marriage services such as MatrimonyDirectory.com for matrimony-related directory services, MatrimonyPhotography.com to provide wedding photography and videography services and MatrimonyBazaar.com to help customers in availing wedding-related services such as wedding apparel, venue, stage decorations, photography, make-up, catering and honeymoon packages from various vendors to meet customers' wedding needs. It has also recently launched MatrimonyMandaps.com, a wedding venue discovery platform, to help customers find the right venue for their wedding in Chennai, Coimbatore, Madurai or Trichy.
During the financial year 2017, the company has posted a total revenue of Rs 292.93 crore, as compared to Rs 255.43 crore during the previous financial year.
According to the a KPMG Report, dated May 4, 2017, titled as Market Study of Online Matrimony & Marriage Services in India, the marriage services industry in India is estimated to be worth approximately Rs 368100 crore in financial 2016, with catering, decoration, venue, gifts and photography accounting for approximately 61 per cent of marriage services spends in financial year 2016.