Indiamart Intermesh’s wholly owned subsidiary -- Tradezeal Online has entered into a Share Purchase Agreement to disinvest its entire 26% stake in share capital of Shipway Technology (STPL) by way of sale of 4,088 Compulsorily Convertible Preference Shares (CCPS) and 100 Equity shares, to Unicommerce eSolutions.
The sale/disposal of shares is expected to be completed within 90 business days subject to the requisite approvals to be obtained by the buyer. The consideration of Rs 41,59,94,040 shall be received on completion of the proposed transaction.
Indiamart Intermesh is India’s largest online B2B marketplace for business products and services.
