Indiamart Intermesh jumps on making additional investment of Rs 10 crore in MTPL

Indiamart Intermesh is currently trading at Rs. 8492.80, up by 240.50 points or 2.91% from its previous closing of Rs. 8252.30 on the BSE.

The scrip opened at Rs. 8300.00 and has touched a high and low of Rs. 8573.85 and Rs. 8223.20 respectively. So far 5199 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 9,951.95 on 05-Feb-2021 and a 52 week low of Rs. 4546.70 on 10-Nov-2020.

Last one week high and low of the scrip stood at Rs. 8745.15 and Rs. 8175.65 respectively. The current market cap of the company is Rs. 25905.46 crore.

The promoters holding in the company stood at 49.82%, while Institutions and Non-Institutions held 31.39% and 18.79% respectively.

Indiamart Intermesh has made an additional investment of around Rs 10 crore to acquire 7% of the paid  up share capital in Mobisy Technologies (MTPL) (on fully converted and diluted basis), by subscribing to 1,19,470, 0.001% Compulsorily Convertible Cumulative Preference Shares (CCPS) of face value Rs 1 each, fully paid up, at a price of Rs 837.03, on September 29, 2021. The aggregate shareholding of the Company in MTPL, post this investment, would be 15.98% of the Share Capital on fully converted and diluted basis.

Indiamart Intermesh is India’s largest online B2B marketplace for business products and services.

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