Indiamart Intermesh has entered into an agreement to subscribe to 4,630 Compulsory Convertible Preference Shares (CCPS) of Fleetx Technologies. 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.
Cost of acquisition is upto Rs 64.99 crore. The said acquisition is expected to be completed in 30 days. The final aggregate shareholding of the company, post completion of said transaction in the said entity would be 25.80% of the share capital of Fleetx on a fully converted and diluted basis.
Indiamart Intermesh is India’s largest online B2B marketplace for business products and services. Its online marketplace provides a platform for mostly business buyers, to discover products and services and contact the suppliers of such business products and services. It provides a robust two-way discovery marketplace connecting buyers and suppliers.
| Company Name | CMP |
|---|---|
| Eternal | 311.85 |
| Meesho | 179.80 |
| Swiggy | 288.35 |
| FSN E-Comm. Ventur. | 327.95 |
| Brainbees Solutions | 214.35 |
| View more.. | |
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