IndiaMART InterMESH Ltd to Acquire 31.33% Stake in Mobisy Technologies for Rs. 14.28 Crores

IndiaMART InterMESH Ltd, a leading B2B e-commerce company, has agreed to purchase 100 equity shares and subscribe to 91,804 Compulsory Convertible Preference Shares of Mobisy Technologies Private Limited from an existing shareholder. Mobisy is a software solutions company that offers SaaS-based solutions for businesses. The acquisition is in line with IndiaMART's long-term objective of offering various Software as a Service (SaaS) based solutions for businesses. Post-acquisition, IndiaMART's shareholding in Mobisy is likely to increase to approximately 31.33% on a fully diluted basis. The total turnover of Mobisy's main product, Bizom, for the financial year ended March 31, 2024 was Rs. 78.6 Crores.