Indiamart Intermesh has acquired 26% (on fully diluted basis) share capital of IB Monotaro (Industry Buying). The company acquired 8.1 lakh shares from Emtex Engineering for a total consideration of Rs 104.2 crore. Pursuant to this transaction, MonotaRO Co. (Japan) will hold 51.6% stake, IndiaMart will hold 26% stake and Emtex Engineering (representing the promoter group and early investors) will hold 22.4% stake in Industry Buying.
Along with the core capabilities of discovery and conversation, this investment is aligned to the strategic vision of IndiaMART to enable commerce for the MSMEs. With the increased adoption of internet and GST shifting the market to online platforms, this tie-up possesses an opportunity for both IndiaMART and MonotaRO.
Indiamart Intermesh is India’s largest online B2B marketplace for business products and services.
