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IndiaMART

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IndiaMART
Company typePublic
ISININE933S01016
Industry
Founded1996; 28 years ago (1996)
Founders
Headquarters
Noida, Uttar Pradesh
,
India
Area served
India
RevenueIncrease ₹1,196 crore (US$140 million) (FY24)[1]
Increase ₹334 crore (US$40 million) (FY24)[1]
Number of employees
5384
Subsidiaries
  • Tolexo
  • Tradezeal International
  • Busy Infotech[2]
Websiteindiamart.com

IndiaMART InterMESH Ltd is Indian's largest B2B online marketplace, connecting buyers and suppliers. It is headquartered in Noida and currently hosts 194 million registered buyers and 7.9 million sellers, listed on its marketplace. It has over 108 million products listed in over 98,000 product categories in across 56 industry groups.[3] [4]

In addition to its headquarters in Noida, the company has branch offices in Ahmedabad, Bengaluru, Chandigarh, Chennai, Coimbatore, Delhi, Faridabad, Gandhinagar, Ghaziabad, Gurugram, Hyderabad, Indore, Jaipur, Jalandhar, Kanpur, Kochi, Kolkata, Lucknow, Ludhiana, Madurai, Meerut, Mumbai, Nagpur, Nashik, Navi Mumbai, Puducherry, Pune, Rajkot, Surat, Tiruppur, Tiruvallur and Vadodara.

The company started its operations in 1996 when Dinesh Agarwal and Brijesh Agrawal founded the website IndiaMART.com,[5] a business-to-business portal to connect Indian manufacturers with buyers.[6][7]

History[edit]

Founded in 1996 by two cousins Dinesh Agarwal and Brijesh Agrawal, IndiaMART started when international demand for Indian products was on the rise. IndiaMART began by providing free listings to SMEs and offering them paid value-added services for website creation, design and maintenance. At that time India had only 15,000 internet users.[8]

Knowing that computer and internet penetration was low in those days among Indian SMEs, the company printed and faxed the inquiries received from interested buyers to listed SMEs across geographies.

While the mission of company was to ‘make businesses doing easy’, the company business focus evolved over the years. In the early years of inception, the company created value for local SMEs by presenting them to potential overseas buyers through an online business directory. As India experienced increased internet penetration, giving rise to fast-growing domestic ecommerce market, the company shifted to focus on facilitating business among its local clients. IndiaMART grew to become the world’s second largest online B2B marketplace, trailing behind Alibaba.

In order to enable domestic sellers to turn buyers’ inquiries into sales, the company today engages in intensive service innovation and rolled out such leading-edge services as Buy Leads, Buyer Help-desk, Inquiries-via SMS and preferred number service.[9]

In November 2014, IndiaMART started promotional campaigns featuring Indian film actor Irrfan Khan as its brand ambassador with phrase "IndiaMART Aur Kya".[10] In March 2016, it raised Series C Funding from Amadeus Capital Partners and Quona Capital to scale up the activities of IndiaMART and Tolexo.[11]

In 2016 and 2019, IndiaMART invested in ProcMart and Vyapar.[12][13] In June 2018, IndiaMART filled draft papers with SEBI to raise ₹600 crore through IPO and list on NSE and BSE.[14] On July 4, 2019, IndiaMART went public[15] via an IPO of ₹474 crore.[16][17] The issue was oversubscribed by 36 times by the end of the final day of the bidding.[17] IndiaMART became the first online B2B marketplace to go public in India, and the first company to launch its IPO in the second tenure of Modi government.[18][19]

As of 2019, IndiaMART was the largest Indian e-commerce platform for businesses with about 60% market share, according to KPMG.[19] In January 2022, IndiaMART acquired 100% stake in accounting software solution provider - Busy Infotecch for 500 Crores[20]

Financials[edit]

As of Q4 FY2024, IndiaMART reported a consolidated revenue from operations of INR 1,197 Crore, with YoY growth of 21%, according to their financial results. As of March 2024, the company has 194 million registered buyers, 7.9 million Indian supplier storefronts and 214K paid suppliers.

It handles 108 million products across 56 industry groups. It hosts 98,000 product categories - ranging from construction and building raw materials, industry plants, machinery and packaging material to electrical equipment, apparel to furniture, housewares, cosmetics and many more. Godrej, Blue star, Tata Motors, Automat, Essae, Hilti, TMTL are some of the biggest suppliers with IndiaMART.[21][22]

IndiaMART has 93 million unique business enquiries in fiscal 2024. The IndiaMART app has 4.7 App rating on Google Play store.[1]

Legal issues[edit]

In November 2020, IndiaMART filed a copyright infringement lawsuit against Justdial before the Delhi High Court on allegations of copying website compilations for the proposed JD Mart business-to-business marketplace.[23][24]

References[edit]

  1. ^ a b "Q4 results review: IndiaMART InterMESH zooms 10% despite target price cuts as Q4 PAT jumps 79%". livemint.com. Mint. Retrieved 2 May 2024.
  2. ^ "B2B marketplace looking to raise ₹600 crore". Medianama. 5 July 2018. Retrieved 19 July 2018.
  3. ^ "About Us - IndiaMART". indiamart.com. Retrieved 25 June 2024.
  4. ^ Corporate (22 February 2024). "IndiaMART is a conversational commerce hub, thanks to early adoption of AI/ML: Dinesh Gulati, COO". IndiaMART. Retrieved 17 July 2024.
  5. ^ Disha Sharma (4 January 2016). "Indiamart's Agarwal backs office products portal ProcMart". VCCircle. Archived from the original on 25 October 2016. Retrieved 27 January 2016.
  6. ^ Varun Jain (16 September 2015). "Indiamart eyes Rs 2,000 cr revenue by 2020". Indiatimes.com. Retrieved 27 January 2016.
  7. ^ Ankita Rai (17 August 2015). "IndiaMART: Small business means big business". Business Standard. Retrieved 27 January 2016.
  8. ^ Dijbijay Mishra (22 July 2019). "'Dot-com bust was the best thing that happened to us'". Times Of India. Retrieved 12 October 2019.
  9. ^ "Indiamart Helpdesk". Retrieved 17 July 2024.
  10. ^ Press Trust of India (18 November 2014). "IndiaMART ropes in actor Irrfan Khan as brand ambassador". Business Standard. Retrieved 11 October 2019.
  11. ^ "Indiamart raises Series C funding from Amadeus Capital, WestBridge & others". VCCircle. 9 March 2016. Archived from the original on 20 July 2016. Retrieved 3 June 2016.
  12. ^ aparnamishra.06 (21 June 2016). "IndiaMART Invests In B2B Marketplace ProcMart". Inc42 Media. Retrieved 15 July 2020.{{cite web}}: CS1 maint: numeric names: authors list (link)
  13. ^ S.H, Salman (3 September 2019). "IndiaMART leads Series A investment in Vyapar". livemint.com. Retrieved 15 July 2020.
  14. ^ "IndiaMART Files Draft Papers To Raise $88.24 Mn". inc42. 3 July 2018. Retrieved 3 July 2018.
  15. ^ ET Markets.com (21 June 2019). "IndiaMART IPO opens on Monday; here's what you need to know". Economic Times. Retrieved 13 October 2019.
  16. ^ RTI (24 June 2019). "IndiaMart IPO opens, to raise over Rs 474 crore". Times Now News. Retrieved 12 October 2019.
  17. ^ a b NDTV Profit Team (26 June 2019). "IndiaMART InterMESH IPO Fully Subscribed On Day 2". NDTV Profit. Retrieved 8 October 2019.
  18. ^ Swaraj Singh Dhanjal (18 June 2019). "Indiamart set to become first firm to test IPO market under Modi 2.0". Live Mint. Retrieved 10 October 2019.
  19. ^ a b Manish Singh (6 July 2019). "A 23-year-old B2B company has shown how keen India is for tech IPOs IndiaMART is the first business-to-business e-commerce firm to go public in India". Tech Crunch. Retrieved 15 October 2019.
  20. ^ "Indiamart Intermesh to acquire accounting software solutions provider - Busy Infotech". business-standard.com. Business Standar. Retrieved 28 June 2024.
  21. ^ "https://investor.indiamart.com/FinancialResultsStatements.aspx". {{cite web}}: External link in |title= (help)
  22. ^ "https://tradebrains.in/will-indiamart-intermesh-maintain-its-market-leadership/#:~:text=Indiamart%20hosts%20a%20highly%20diverse,56%20industries%20on%20their%20platform". {{cite web}}: External link in |title= (help)
  23. ^ Bhalla, Madhurima Nandy, Tarush (18 November 2020). "Indiamart, JD in legal war over copyright violations". mint. Retrieved 17 December 2020.{{cite web}}: CS1 maint: multiple names: authors list (link)
  24. ^ "Clash of Marts | Lexology". www.lexology.com. 25 November 2020. Retrieved 17 December 2020.

External links[edit]

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