IndiaMART InterMESH Ltd to invest Rs. 3 crores in SuperProcure

IndiaMART InterMESH Limited (hereinafter referred as 'Company') has indirectly through its wholly owned subsidiary, Tradezeal Online Private Limited (hereinafter referred as "Tradezeal"), has entered into an agreement to invest Rs. 3 Crores by subscribing to 30,000 0.0001% Compulsorily Convertible Debentures in Truckhall Private Limited (hereinafter referred as 'SuperProcure').

Truckhall under the name 'SuperProcure', a SaaS platform that digitizes the entire freight sourcing and dispatch monitoring system of the logistics department of an organization. It allows logistics departments to find the best possible rates through a transparent bidding and auction structure, thus saving costs.

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.

The aggregate shareholding of Tradezeal in SuperProcure currently stands at 25.02% on a fully diluted basis. However, post investment shareholding through the subscription of the said CCDs shall depend on the conversion event of the CCDs.

Shares of Indiamart Intermesh Limited was last trading in BSE at Rs. 5986.35 as compared to the previous close of Rs. 5942.30. The total number of shares traded during the day was 4130 in over 967 trades.

The stock hit an intraday high of Rs. 6021.25 and intraday low of 5881.20. The net turnover during the day was Rs. 24596991.00.

Source : Equity Bulls

Keywords

IndiamartIntermesh INE933S01016 TradezealOnline Investment SuperProcure Truckhall