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Indiamart to Acquire 10% stake in Baldor Tech

May 31, 2024

By: BlinkX Research Team

Indiamart Intermesh entered an agreement with Baldor Technologies (IDfy’s) on Wednesday, May 29 to acquire a 10% stake for offering various Software as a Service (SaaS) based solutions for businesses. The stake acquisition will amount to a total cost of 89.69 crore rupees.

Key Takeaways from Indiamart Intermesh’s Acquisition:

• Indiamart Intermesh acquired a 10%  stake in Baldor Technologies to offer various Software as a Service (SaaS) based solutions for businesses.
• The stake acquisition will amount to 89.69 crore rupees.
• Acquires 100 equity shares.

The company will acquire 100 equity shares 3,55,019 Compulsory Convertible Preference Shares that is convertible into 17,73,495 equity shares and 2,32,810 Compulsory Convertible Debentures which are convertible into 6,95,822 equity shares.

Commenting on the investment, Dinesh Agarwal, Founder and MD of IndiaMART said, “In an era where trust and authenticity are paramount, IDfy’s expertise in background verification and authentication aligns seamlessly with IndiaMART’s mission to empower businesses digitally”. 

Agarwal further highlighted the importance of these services in enabling secure and reliable transactions, crucial for the growth and sustainability of businesses in the digital era.

About IndiaMART Intermesh Limited:

IndiaMART Intermesh Limited, founded in 1999 is one of India’s largest online B2B marketplace, with a market share of 60%, connecting buyers with suppliers. The channel focuses on providing a 360-degree solution to Small and Medium Enterprises (SMEs), large enterprises as well as individuals. The company aims ‘to make doing business easy’ and is trusted with 194 million buyers, 7.9 million sellers, and has 108 million products and services on its platform leading to nearly 44 million business enquiries every month. 

The company is well known for its dynamism in Indian SMEs as it provides them with a one-stop solution to transform their business digitally and reach directly to their end customers online.

Read More About IndiaMART Intermesh Limited Share Price Here!