IndiaMART invests Rs15 crore to acquire 7.96% stake in Mobisy Technologies

4 Nov 2022 , 09:18 AM

IndiaMART InterMESH, the largest B2B marketplace of India informed to the exchanges that it has made an investment of approximately Rs15.1 crore to acquire 7.96% stake in Mobisy Technologies Private Limited ('Bizom') via a secondary share purchase of existing investor securities. This investment will result in IndiaMART increasing its stake to 25.08%.

As per the filing, Bizom is a SaaS based end to end retail intelligence platform for brands and B2B retailers. It allows businesses to digitize the end-to-end sales and distribution platform from Sales Force Automation (SFA), Distributor Management System (DMS), and retail execution and management. It uses a proprietary analytics engine with AI and ML to deliver custom reports, alerts and actionable insights to brands.

The technology also uses features like image recognition, and offers an auto replenishment system, business intelligence, smart merchandising, trade financing, trade promotion management, and more.

Speaking about the investment, Dinesh Agarwal, founder and MD of IndiaMART said "Bizom continues to be one of the market leaders in the SFA and DMS space in India. They have grown significantly in a capital efficient manner since our initial investment. We are excited to further our commitment and partnership with Lalit, Shree and team as they scale further".

Commenting on the deal, Lalit Bhise, CEO and Co-founder of Bizom said "We are extremely glad to see the continued faith of Indiamart in Bizom's business and growth. We are grateful to Dinesh and the Indiamart team for helping us scale in the last two years."

At around 9:18 AM, Indiamart Intermesh Ltd is currently trading at Rs4,731.35 per share up by Rs4.05 or 0.09% from its previous closing of Rs4,727.30 per share on the BSE.

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