Tradezeal Online Pvt Ltd's stake reduces in ProcMart after recent fund raising by the company

IndiaMART InterMESH Limited through its wholly owned subsidiary, Tradezeal Online Private Limited ('Tradezeal'), holds 19.5% of the share capital in Instant Procurement Services Private Limited ('ProcMart').

In this regard, pursuant to the proposed subscription of shares by the new investors in ProcMart, the shareholding of Tradezeal in ProcMart will be diluted from 19.5% of the share capital (on a fully diluted basis) to 13% of the share capital (on a fully diluted basis) subject to certain covenants as mentioned in the Shareholder's Agreement.

Shares of Indiamart Intermesh Limited was last trading in BSE at Rs. 2685.05 as compared to the previous close of Rs. 2687.20. The total number of shares traded during the day was 3326 in over 433 trades.

The stock hit an intraday high of Rs. 2739.40 and intraday low of 2672.60. The net turnover during the day was Rs. 8991123.00.

Source : Equity Bulls

Keywords

IndiamartIntermesh INE933S01016 TradezealOnline StakeDilution ProcMart ProcurementServices