Indiamart Intermesh Ltd arm to acquire stake in 2 companies

Indiamart Intermesh Limited (hereinafter referred as "Company") has indirectly, through its wholly owned subsidiary, Tradezeal Online Private Limited, agreed to acquire:

- 26% of the share capital of Shipway Technology Private Limited on fully converted and diluted basis.

- 3.02% of the share capital of Truckhall Private Limited on fully diluted basis in addition to 22% of the share capital (on fully diluted basis) already held by the Company.

Truckhall Private Limited is engaged in the business of creating online marketplace and software development for the logistics industry including running and managing a digital platform 'SuperProcure'. SuperProcure is a SaaS based platform that digitizes the entire freight sourcing by finding the best possible rates through a transparent bidding and auction structure, and dispatch monitoring system of the logistics department of any business, offering complete and realtime visibility of all the events in the entire dispatch cycle, from indenting to delivery, via alerts, dashboards and reports, which improves collaboration amongst all stakeholders leading to better efficiency in the entire process.

The total turnover for the entity for the Financial Years ended March 31, 2020, March 31, 2019 and March 31, 2018 is Rs 1.48 Cr, Rs 3.69 Cr & Rs 10.53 Cr, respectively.

Shipway Technology Private Limited is engaged in the business of developing SaaS based solutions which allow small businesses to automate their shipping operations.

Its flagship product 'Shipway' allows sellers to improve the shipping experience for their customers by providing branded tracking pages, sending out automatic delivery notifications, and capturing customer feedback.

Additionally, via its 'Ezyslips product', the entity allows sellers to automate their back office shipping workflows' including courier allocation, bulk label printing, fraud detection and returns management.

The total turnover for the entity for the Financial Years ended March 31, 2020, March 31, 2019 and March 31, 2018 is Rs 2.63 Cr, Rs 1.79 Cr & Rs 0.73 Cr, respectively.

Source : Equity Bulls

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