Private Investment company WestBridge Capital divested 14.6 lakh shares in grocery app IndiaMART
for Rs 380 crore. The investment firm sold its shares in three separate deals worth Rs 2,601 per share
with a 1.8 percent discount rate at stock closing. The share closing increased by 1.25 percent at Rs
2,648.80 on BSE. IndiaMART is a B2B platform that helps buyers and suppliers connect. Here we are talking IndiaMART got divestment of stakes from WestBridge Capital for Rs 380 crore.
SBI mutual fund bought 10.8 lakh shares for Rs 280.9 crore, while Morgan Stanley Asia purchased 1.9
lakh shares for about Rs 50 crore. The share was sold for Rs 2,601 per piece. The investment was made
the same day IndiaMart reported that it got shareholders’ approval to re-appoint the CEO and
managing director to Dinesh Aggarwal. IndiaMART offers an online platform to connect small &
Medium Enterprises and large businesses to customers. This online marketplace provides various
products, including household, sports, fitness items, handicrafts, and kitchenware.
This startup generates most of its revenue through its subscription fees, premium services, payment processing services, and advertising platform. The application does not have any restrictions on order quantity or value. Sellers can join the platform and earn revenue from services, businesses, and other client leads.
The company reported a 78 percent increase in its net profit to Rs 99.6 crore on a year-on-year basis for the fourth quarter of FY24. The operational revenue also increased by 17 percent to Rs 314.7 crore in the same duration. The B2B platform recently bought a 10 percent stake in Baldor Technologies via its secondary transaction for Rs 89.7 crore. This startup offers a fraud detection platform that reduces the chances of fraud and money loss. The platform offers financial risk management, human resources, and HR analytics services
Conclusion
WestBridge Capital is a private equity firm that divested 14.6 lakh of its shares in IndiaMART for Rs 380 crore. SBI mutual fund bought 10.8 lakh shares for Rs 280.9 crore, while Morgan Stanley Asia purchased 1.9 lakh shares for about Rs 50 crore, and the owner of the remaining 1.9 lakh shares is still undisclosed. IndiaMART offers an online platform to connect small & Medium Enterprises and large businesses to customers. This online marketplace provides various products, including household, sports, fitness items, handicrafts, and kitchenware.
The firm earns its revenue through its subscription fees and premium services, payment processing services, and advertising platform. This private equity firm sold its shares in three deals worth Rs 2,601 per share with a 1.8 percent discount rate at stock closing. The application does not have any restrictions on order quantity or value. Sellers can join the platform and earn revenue from services, businesses, and other client leads. This online B2B marketplace bought a 10 percent stake in Baldor Technologies last month via its secondary transaction for Rs 89.7 crore. Baldor Technologies offers a fraud detection platform that reduces the chances of fraud while offering services including financial risk management, human resources, and HR analytics.
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