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Indiamart Intermesh acquires 26% stake in Adansa Solutions worth Rs13.75cr

28 Feb 2022 , 04:40 PM

In its regulatory filing dated February 28, 2022, IndiaMART InterMESH Limited has informed that the company has indirectly, through its wholly-owned subsidiary, Tradezeal Online Private Limited entered into an agreement to invest 26.01% of the share capital (on a fully diluted basis) of Adansa Solutions Private Limited.

This investment is in line with the Company’s long-term objective of offering various Software as a Service (‘SAAS’) based solutions for businesses.

The Company, through Tradezeal, intends to invest up to Rs13.75 Crores approximately in Real books by subscribing to 7,950 Series Seed Compulsorily Convertible Preference Shares (‘CCPS’) of face value of Rs10 per CCPS at a premium of Rs14,696 (Rupees Fourteen Thousand Six Hundred and Ninety-Six Only) per CCPS aggregating upto Rs11.69 crores, and subscribing to 20 Equity Shares of face value of Rs1000 per equity share at a price of Rs10,29,411.76 (Rupees Ten Lakhs Twenty Nine Thousand Four Hundred Eleven and Seventy Six Paise Only) per equity share from existing shareholders, aggregating upto Rs2.06 crores.

The final aggregate shareholding of Tradezeal, post this investment, in Realbooks would be 26.01% on a fully diluted basis.

Realbooks, offers a cloud-based accounting software product for businesses. Furthermore, it enables businesses to create customized invoices, attach files to vouchers, and manage their inventory. It also enables businesses to manage their different business units at multiple locations from a single dashboard.

Indiamart Intermesh Ltd ended at Rs4,772.50 down by Rs85 or 1.75% from its previous closing of Rs4,857.50 on the BSE. It touched an intraday high and low of Rs4,857.50 and Rs4,743.20 respectively.

Related Tags

  • IndiaMART InterMESH Acquisition
  • IndiaMart InterMesh news
  • IndiaMART InterMESH Stock
  • IndiaMART InterMESH Updates
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