Indiamart Intermesh has entered into an agreement to invest in Simply Vyapar Apps. The aggregate shareholding of the Company, post this investment, in the said entity would be 26% on fully converted and diluted basis. The cost of acquisition is Rs 31.2 crore. As part of Company’s Strategic investments, this investment would help the Company to consolidate its position in B2B services.
Indiamart Intermesh is India’s largest online B2B marketplace for business products and services with approximately 60% market share of the online B2B classifieds space in India in fiscal 2017.