Incorporated in 1999, IndiaMART InterMESH Limited is an online B2B marketplace to deal with business products and services. They offer an online platform for business buyers to connect with suppliers of various products and services.
The buyers can place business inquiries by visiting suppliers (both small and medium) online at this marketplace and exploring the products and services listed offered by the suppliers. The company offers products and services across 52 industries and this marketplace is accessible through desktop and mobile platforms.
The company earns revenue primarily by selling its subscription packages available on monthly, and yearly basis. This package offers the following benefits to the suppliers:
1. Listing of the supplier storefronts on online marketplace based on priority,
2. Access to the lead management system,
3. Integrated access to a 3rd party online payment gateway, and
4. Access to RFQs or buy leads
In addition, the company also generates revenue by advertising, sale of RFQ credits and payment facilitation service.
Indiamart Intermesh Buyback 2023 Detail
| Issue Period | August 31, 2023 – September 6, 2023 |
| Security Name | Indiamart Intermesh Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 1,250,000.00 |
| Issue Size (Amount) | ₹500.00 Crores |
| Buyback Price | ₹4000 per share |
| Face Value | ₹10 per share |
| Listing At | BSE, NSE |
Indiamart Intermesh Buyback 2023 Issue Timetable
| Last Date to buy shares | August 24, 2023 |
| Record Date | August 25, 2023 |
| Offer Opens On | August 31, 2023 |
| Last Date for receipt of Tender Forms | September 6, 2023 |
| Offer Closes On * | September 6, 2023 |
| Finalisation of Buyback Acceptance | September 12, 2023 |
| Last Date for settlment of bids | September 13, 2023 |
| Last Date for Extinguishment of Shares | September 25, 2023 |
* Last Date to Tender shares on Zerodha : September 5, 2023
Buyback Ratio
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 85 Fully paid-up Equity Shares held on the Record Date. | 187,500.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 55 Fully paid-up Equity Shares held on the Record Date. | 1,062,500.00 |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-22 | 2,948.85 | 865.68 | 297.62 |
| 31-Mar-23 | 3,444.63 | 1,165.93 | 283.83 |
| Amount in ₹ Crore |
Stock price at BSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 3,205.00 | 2,612.65 | 2,885.62 |
| Jun-2023 | 5,965.00 | 2,783.55 | 4,774.53 |
| May-2023 | 6,101.00 | 5,331.70 | 5,736.02 |
Stock price at NSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 3,335.55 | 2,611.40 | 2,886.08 |
| Jun-2023 | 5,969.00 | 2,781.65 | 4,774.59 |
| May-2023 | 6,097.00 | 5,327.05 | 5,736.63 |
Necessity of the Issue
The Buyback is being undertaken for the following reasons:
- Taking into account the operational and strategic cash requirements of the Company in the medium term (including investment in growth plans and associated capital expenditure) and cash reserves, the Company considers appropriate to return surplus funds to the shareholders in an effective and efficient manner. Further, the Buyback will promote capital efficiency and thereby increasing shareholders’ value and improving return on equity.
- The Buyback gives an option to the Eligible Shareholders (as defined below) to either (A) participate in the Buyback and receive cash in lieu of their Equity Shares which are accepted under the Buyback, or (B) not to participate in the Buyback and get a resultant increase in their percentage shareholding in the Company post the Buyback, without additional investment.
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Company Contact Information
Indiamart Intermesh Limited
1st Floor, 29 Daryaganj,
Netaji Subhash Marg,
New Delhi 110 002, India
Phone: +91 – 120 – 6777
Email: customercare@indiamart.com
Website: https://www.indiamart.com/