IndiaMART InterMESH Ltd's subsidiary to acquire stake in EasyEcom

IndiaMART InterMESH Limited (hereinafter referred as "Company") has indirectly through its wholly owned subsidiary, Tradezeal Online Private Limited (hereinafter referred as "TOPL"), agreed to acquire 4,784 Compulsorily Convertible Series A Preference Shares and 100 Equity Shares aggregating to 26.01% of Edgewise Technologies Private Limited (hereinafter referred as "EasyEcom"), on fully diluted basis.

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.

Edgewise Technologies Private Limited, under the brand name EasyEcom, offers SaaS based online commerce enablement solutions to the merchants.

It's flagship inventory and warehouse management solutions allow merchants to allocate, track, and reconcile inventory across various online and offline sales channels.

It also offers additional modules which automate other back office functions of merchants, such as shipping related payments reconciliation and returns reconciliation.

Shares of Indiamart Intermesh Limited was last trading in BSE at Rs. 6508.55 as compared to the previous close of Rs. 6566.10. The total number of shares traded during the day was 5524 in over 2159 trades.

The stock hit an intraday high of Rs. 6733.70 and intraday low of 6382.85. The net turnover during the day was Rs. 36295087.00.

Source : Equity Bulls

Keywords

IndiamartIntermesh INE933S01016 StakeAcquisition TradezealOnline EasyEcom