21-Jul-2023
2 mins read
Indiamart, India’s largest online marketplace for businesses, is planning to discuss a proposal for a buyback of its fully paid-up equity shares in a meeting held on July 20, 2023.
They have a 60% share of the online B2B Classified market in India. They focus on helping small, medium, and large businesses and individuals. The company started in 1999 and aims to make doing business easy. Indiamart has a workforce of 4,583 employees spread across the country. Indiamart offers several benefits for both buyers and suppliers:
Indiamart for Buyers:
- Easy access to connect with sellers anytime, anywhere.
- A wide marketplace with a diverse range of products and suppliers.
- Payment Protection Program for secure transactions.
Indiamart for Suppliers:
- Enhanced business visibility, allowing more potential customers to find your brand.
- Increased credibility for your brand on the platform.
- Lead Management System to efficiently handle and track potential business opportunities.
- Instant Payment Solution through “Pay with Indiamart” for smoother payment processing.
Company Financials of Indiamart Intermesh (In Crore)
| Period Ended | Total Asset | Total Revenue | Profit After Tax |
| 31- Mar – 22 | 2,948.85 | 865.68 | 297.62 |
| 31-Mar-23 | 3,444.63 | 1,165.93 | 283.83 |
Buyback Details
Recently the Board approved a proposal for a buyback of 12,50,000 fully paid-up equity shares at a price of Rs. 4000 per share for an aggregate amount not exceeding Rs. 500 Crores. The buyback offer will be made through the “tender offer” route and is subject to approval from shareholders through a special resolution via a postal ballot. The pre-buyback shareholding pattern of the company, as of July 14, 2023, indicates the distribution of shares among Promoters & Promoter Group, Foreign Investors, Financial Institutions/Banks & Mutual Funds, and Others.
A share buyback is a corporate action where a company repurchases its shares from shareholders. It is considered a tax-efficient method of returning cash to investors. Share buybacks can increase the stock’s value by reducing the number of outstanding shares in the market.
Indiamart Intermesh Buyback 2023 Detail
| Issue Period | Yet to be announced |
| Security Name | Indiamart Intermesh Limited |
| Issue Type | Tender Offer |
| Issue Share (Shares) | 1,250,000.00 |
| Issue Size (Amount) | Rs 500 Crores |
| Buyback Price | Rs 4000 Per Share |
| Face Value | Rs 10 Per Share |
| Listing At | BSE, NSE |
Necessity of the Indiamart Intermesh Buyback
The necessity of Indiamart Intermesh is not declared yet
Lead managers for Indiamart intermesh Buyback
The lead managers for Indiamart intermesh is not declared yet
FAQs
- What is the record date for the Indiamart Intermesh buyback?
The record date for the Indiamart Intermesh buyback has yet to be announced.
- What is the issue size of the Indiamart Intermesh buyback?
The issue size of Indiamart Intermesh Buyback is Rs 500 Crores.
- What is the buyback price per share?
The buyback price is Rs 4000 per share.
- What is the record date for the Indiamart Intermesh buyback?
The record date of the Indiamart Intermesh buyback has yet to be declared.
- Where is the Company listed?
The Company is listed on BSE and NSE.
- Who is the lead manager for the Indiamart Intermesh buyback?
The lead managers of the Indiamart Intermesh buyback have yet to be declared.
- What is the record date for the Indiamart Intermesh buyback?
The record date of the Indiamart Intermesh buyback is not declared yet.
- Where is the company listed?
The Company is listed on BSE and NSE.
- Who is the lead manager for the Indiamart Intermesh buyback?
The lead managers of the Indiamart Intermesh buyback have yet to be declared.