Sunday, June 23

Tag: IndiaMart

Indiamart becomes India’s Largest B2B Marketplace, Registered 100 Million Users
News

Indiamart becomes India’s Largest B2B Marketplace, Registered 100 Million Users

Leading B2B marketplace IndiaMART has seen a 10-fold increase in its user base over the past six years to achieve 100 million registered users on the platform. "We have aimed at making IndiaMART a one-stop-shop for all the business needs and have strived for curating a platform that is simple and convenient for millions of MSMEs in India," said Chief Operating Officer Dinesh Gulati. Nearly 36 per cent of the traffic on IndiaMART comes from metro cities and the remaining 64 per cent from tier one, tier two and smaller towns. "We have tried to show the masses the digital way of doing business. Going forward, we will keep investing in our platform with the use of voice, vernacular, artificial intelligence and machine learning that will further ease out doing business in India," said...
Indiamart posts profit of $4.5 million in Q1, FY’20
Market

Indiamart posts profit of $4.5 million in Q1, FY’20

India based B2B eCommerce platform Indiamart Intermesh posted a consolidated profit of $4.5 million for the quarter ended on June 30, 2019. The company had recorded a loss of $8 million in the same period a year ago. "Our growth is a result of the focus on execution and measures undertaken towards enhancing buyer and supplier experience. We are continuously investing in expanding our network, enhancing our technological capabilities and acquiring the best minds from the industry," Indiamart Intermesh, Managing Director, Dinesh Agarwal said. The total consolidated income of Indiamart increased by 37.5 percent to $23 million during the reported quarter from $16.7 million in the corresponding period of 2018-19. "Consolidated revenue from operations grew by 30 percent on YoY basis...
Online Platform Indiamart IPO subscribed 36 times
Market

Online Platform Indiamart IPO subscribed 36 times

27th June, 2019- The initial public offer of IndiaMART InterMESH, an online marketplace for business products and services, was subscribed 35.87 times so far on the final day of bidding on 26th June 2019. The Rs 475 crore IPO received bids for 9,65,97,705 shares against the total issue size of 26,92,824 shares, as per data available with the NSE till 16:45 hrs. The initial public offer (IPO) is of 48,87,862 equity shares including anchor portion of 21,95,038 equity shares. The price range for the offer, which opened for bidding on Monday, has been fixed at Rs 970-973 per share. IndiaMart InterMesh had raised more than Rs 213 crore from anchor investors last week. ICICI Securities Ltd, Edelweiss Financial Services Ltd, a...
IndiaMart IPO Opens Today
Market

IndiaMart IPO Opens Today

India based B2B e-commerce platform IndiaMart initial public offer (IPO) launched today with a price band of Rs 970-973 to raise over Rs 474 crore. The company has offered 48,87,862 equity shares in the issue, which will close on June 26. The price band is set at Rs 970-973 per equity share of face value of Rs 10 each. "The floor price is 97 times the face value of equity shares and the cap price is 97.3 times the face of the equity shares," according to the announcement made by IndiaMart. The existing investors Intel Capital, Amadeus, DPF Limited along with promoter Dinesh Chandra Agarwal, are diluting some of their stake for the IPO. Intel Capital (Mauritius) has put up to 20,76,190 equity shares for sale in the offer, Amadeus 1,70,502 equity shares, Amadeus IV DPF limited 2...
Indiamart Raises $30 Million funding before IPO
FUNDING

Indiamart Raises $30 Million funding before IPO

Indiamart, India's leading online marketplace app for business products and services, said it has raised more than $30 million from 15 anchor investors by allotting 21,95,038 equity shares at a price of Rs 973, the upper band of its IPO that opens on June 24. ICICI Mutual Fund, HDFC Mutual Fund, SBI Mutual Fund, Birla Mutual Fund, Hornbill Capital Advisers LLP are among the 15 anchor investors. IndiaMart said it will launch its initial public offering from June 24 and has fixed a price band of Rs 970973 per share. The initial public offering (IPO) is of up to 48,87,862 equity shares, according to a statement by the company. Promoters Dinesh Chandra Agarwal and Brijesh Kumar Agrawal will sell 14,30,109 shares through the issue, ...
India Based Online Marketplace Indiamart Gets Permission to Launch IPO
Market

India Based Online Marketplace Indiamart Gets Permission to Launch IPO

Online marketplace IndiaMART InterMESH Ltd have received markets regulator Sebi's go-ahead to float initial share sale offers. With this, the number of companies getting Sebi's approval to float an initial public offer (IPO) has reached 50 this year so far. Indiamart which had filed draft their respective draft offer documents with Sebi in June, obtained the regulator's "observations" on September 14, according to the latest update with the markets watchdog. Sebi's observations are necessary for any company to launch IPO, follow-on public offer and rights issue. Through IndiaMART's public issue, a total of 42,88,801 equity shares will be divested by the promoters and private equity firms Intel Capital (Mauritius) Ltd, Amadeus Capital Partners and Accion Frontier Inclusion Mauri...
Exclusive Interview of Salebhai Founders Prior to the Launch of IPO
Entrepreneurs Talk

Exclusive Interview of Salebhai Founders Prior to the Launch of IPO

Amidst all the trending news regarding the IPO and BSE SME platform, our platform was quite curious to know more about the SaleBhai IPO issue and also to know about the various things that were not disclosed by the company. Therefore, we conducted an exclusive interview with one of the co-founders of SaleBhai, Vishwavijay Singh and he answered all our questions and disclosed various details that were not known as of now. For the very first time, the co-founder revealed the amount that the company is going to raise from the IPO. Apart from this, IndiaMart's IPO has also been approved and it will also be listed under the BSE SME platform. Here we have the list of those questions and their answers in the words of Vishwavijay Singh. This exclusive interview will surely help you know SaleBha...
Online Startups That Are Listed Under Stock Exchange
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Online Startups That Are Listed Under Stock Exchange

What is the stock exchange? In simple words, stock exchange refers to an organized market in which securities are bought and sold. If we go into the detailed description, the prices at which these securities are bought and sold are regulated by the forces of demand and supply. The stock exchange basically is an investment intermediary for corporations, governments, municipalities, and other incorporated bodies where they can raise capital by channeling savings of the investors in various productive ventures. The other purpose served by the stock exchange is that the investors can sell their securities to other investors for cash. These exchanges impose various rules and regulations on the firms and brokers that are involved with them. If a particular company is traded on an exchange,...
Top 5 Stories Of The Week (2nd July – 7th July)
Story

Top 5 Stories Of The Week (2nd July – 7th July)

This week was quite eventful in terms of business and startup activities. Many companies came up with a number of business strategies and plans. The most trending topic that buzzed the readers this week was about the Reliance Industries, that became India’s largest tax-paying private company. Apart from this, there were many other news as well that were trending around the social media and news portals. So, here we have the summary of the top 5 stories of the week that were trending and buzzed the readers:         1) Reliance Becomes India’s Largest Tax-Paying Private Company   Mukesh Ambani, the Chairman of Reliance Industries said that Reliance has become first Indian private sector company paying 9,844 crore tax and 26,312 crore of cus...
IndiaMart Successfully Plans An IPO: Offers Millions of Shares
Market

IndiaMart Successfully Plans An IPO: Offers Millions of Shares

Indian e-commerce company ‘IndiaMart’ has confirmed that it is going to issue an initial public offering (IPO) very soon. The company had filed its draft papers recently to SEBI (Securities and Exchange Board of India). The online company will start the process of IPO in the next financial year. It is a Noida-based company and will offer up to 4.28 million shares through its offer for sale. The promoters and investors will also sell a proportion of their stakes in the venture. “We will go for IPO soon. Basically, we are not in need to raise external money but we want to give an exit route to existing investors. Most of the equity sale will happen in secondary market,” said Dinesh Agarwal, Indiamart founder and CEO. According to the reports, the company’s investors will sell 2.07 Mn sh...
IndiaMart Files IPO To Raise Up To Rs 600 Crore
Market

IndiaMart Files IPO To Raise Up To Rs 600 Crore

One of the biggest online platforms in India named Indiamart.com will soon raise the company’s valuation to as much as Rs 600 crore through a proposed initial public offering (IPO). The company will soon file draft papers for its initial share sale which is expected to take place next month. According to the reports, investment banks ICICI Securities, Edelweiss Financial Services and a foreign investment bank are a group of advisors for the company in the matter of the initial share sale. “Indiamart is working on an IPO that could see it raise around ₹500-600 crore through a mix of primary and secondary share sale. Some of the investors of the company could sell part of their stakes. The final details of these are yet to be formalized,” stated a source. However, Dinesh Agarwal who is ...
IndiaMart, Taobao Figure in US Notorious Markets List
USA

IndiaMart, Taobao Figure in US Notorious Markets List

Popular Indian portal IndiaMart. com and Delhi wholesale market Tank Road have figured among the annual American notorious markets list which was released today and is topped by China. The list released by US Trade Representative (USTR) highlights 25 online markets and 18 physical markets around the world that are reported to be engaging in and facilitating substantial copyright piracy and trademark counterfeiting. "The Trump Administration is committed to holding intellectual property right violators accountable and intensifying efforts to combat counterfeiting and piracy," he said. The 2017 Notorious Markets List maintains its special focus on the distribution of pirated content and counterfeit goods online. This years report highlights illicit streaming devices as an emergin...