Indiamart Intermesh has entered into an agreement to invest Rs 61.55 crore approximately in Simply Vyapar Apps (Simply Vyapar) in its Series B Investment Round by subscribing 1,809 Series B Compulsorily Convertible Preference Shares (‘CCPS’) and purchasing 444 Equity Shares. This investment shall be in line with the company’s long-term objective of offering various software as a service (SAAS) based solutions for businesses.
The aggregate shareholding of the Company, post this investment, shall increase from 26% currently to 27% of the share capital of Simply Vyapar, on fully diluted basis.
Indiamart Intermesh is India’s largest online B2B marketplace for business products and services.
