Matrix IPO

Matrix Cellular (International) Services Ltd, providing international SIM card services in India and abroad on June 22, 2015 filed its Draft Red Herring Prospectus (DRH) with the market regulator – Securities and Exchange Board of India (SEBI) – for an Initial Public Offer (IPO) of 15,172,540 equity shares of face value of Rs 10 each at a premium to be declared later. The offer constitutes 36.10 per cent post-offer paid up equity of the company. The existing shareholders are diluting their stake and therefore no money from this IPO will accrue to the company.

The company was incorporated in Delhi on November 17, 2005 as Matrix Cellular (International) Services Pvt Ltd, and on April 21, 2015 it was converted into a public limited company and got its present name.