IndiaMART InterMESH to invest in Simply Vyapar

IndiaMART InterMESH Limited (hereinafter referred as "Company") has entered into an agreement to invest Rs. 61.55 Crores (Approx.) in Simply Vyapar Apps Private Limited (hereinafter referred as "Simply Vyapar") in its Series B Investment Round by subscribing 1,809 Series B Compulsorily Convertible Preference Shares ('CCPS') and purchasing 444 Equity Shares.

Simply Vyapar is engaged in business of providing business accounting software (both mobile app as well as desktop versions) with Billing, GST Invoice, Stock Inventory & Accounting solutions.

The total turnover of Simply Vyapar for the financial year ended March 31, 2021 was Rs. 11.7 Crores.

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.

Shares of Indiamart Intermesh Limited was last trading in BSE at Rs. 5001.55 as compared to the previous close of Rs. 5842.60. The total number of shares traded during the day was 95403 in over 31564 trades.

The stock hit an intraday high of Rs. 5552.00 and intraday low of 4970.00. The net turnover during the day was Rs. 495262641.00.

Source : Equity Bulls

Keywords

IndiamartIntermesh INE933S01016 INDIAMART Investment SeriesBFunding SimplyVyapar