Indiamart Intermesh acquires 22% stake of Truckhall through subsidiary Tradezeal Online

The company, through its wholly-owned subsidiary, has agreed to acquire 100 equity shares and 12,846 Compulsorily Convertible Preference Shares (CCPS) aggregating upto Rs9.68cr.

Apr 19, 2021 10:04 IST India Infoline News Service

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Indiamart Intermesh Limited has indirectly, through its wholly-owned subsidiary, Tradezeal Online Private Limited, agreed to acquire 22% of the Share Capital (on a fully diluted basis) of Truckhall Private Limited (Entity) through SSHA signed between the Parties.

This investment shall be in line with the Indiamart Group’s long-term objective of offering various Software as a Service (SaaS) based solutions for businesses.

The company, through its wholly owned subsidiary, has agreed to acquire 100 equity shares and 12,846 Compulsorily Convertible Preference Shares (CCPS) aggregating upto Rs9.68cr.

“The final aggregate shareholding of the company, post this investment, in the said |entity would be 22% on a fully converted and diluted basis,” company said in a regulatory filing on Saturday.

At around 10.57 am, Indiamart Intermesh Ltd was trading at Rs7838.25 down Rs140.20 or 1.76% on the BSE.

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