Indiamart Intermesh to invest Rs 912 cr in Fleetx Technologies

1 Mar 2022 , 01:33 AM

Indiamart Intermesh has entered into an agreement to invest 1653Percentage of the share capital on fully diluted basis of Fleetx Technologies The company will invest Rs 9142 crore in the current funding round to acquire 3805 equity shares of face value of Rs 10 each at a price of Rs 57315 aggregating to Rs 2181 crore and subscription to 10323 series B compulsorily convertible preference shares of face value of Rs 10 each at a price of Rs 67420 aggregating to Rs 6961 crore Fleetx is an freight and fleet management software which helps both fleet operators as well as businesses to digitize their logistics operations and helps them improve safety efficiency and sustainability of their vehicles and operations by providing them visibility of vehicles and related IoT based analytics services The transaction is expected to close by 30 March 2022 The investment is in line with the companys objective of offering various software as a service SaaS based solutions for businesses