IndiaMART InterMESH Ltd is an Indian e-commerce company that provides B2B and customer to customer sales services via its web portal.[3] The group began in 1996 when Dinesh Agarwal and Brijesh Agrawal founded the website IndiaMART.com,[4] a business-to-business portal to connect Indian manufacturers with buyers.[5][6] The company is headquartered in Noida. As of 2019, IndiaMART was the largest Indian e-commerce platform for businesses with about 60% market share, according to KPMG.[7]

IndiaMART
TypePublic
ISININE933S01016
Industry
Founded1996; 26 years ago (1996)
Founder
Headquarters,
India
Area served
India
RevenueIncrease 753 crore (US$99 million) (FY22)[1]
Increase 298 crore (US$39 million) (FY22)[1]
Number of employees
3049
Subsidiaries
  • Tolexo
  • Tradezeal International
  • Busy Infotech
  • 10times.com[2]
Websitewww.indiamart.com

HistoryEdit

IndiaMART was launched in 1996 as a directory of the websites for customers in the Delhi-NCR region by two cousins Dinesh Agarwal and Brijesh Agrawal.[8][9] At that time India had only 15,000 internet users.[10] By 1999, the directory had more than 1000 listings.[11]

After overcoming the dot-com bust, in 2008–09 when the recession hit the US, the company decided to pivot the focus from export oriented business to India-focused B2B market and raised $10 million from Intel Capital in Series A round funding from Intel Capital, a part of which was invested in IndiaMART, One97 Communications and Global Talent Track.[12][13][14]

In November 2014, IndiaMART started promotional campaigns featuring Indian film actor Irrfan Khan as its brand ambassador.[15]

In March 2016, it raised Series C Funding from Amadeus Capital Partners and Quona Capital to scale up the activities of IndiaMART and Tolexo.[16]

In 2016 and 2019, IndiaMART invested in ProcMart and Vyapar.[17][18]

In June 2018, IndiaMART filled draft papers with SEBI to raise ₹600 crore through IPO and list on NSE and BSE.[19] In June 2019, IndiaMART went public[20] via an IPO of ₹474 crore.[21][22] The issue was oversubscribed by 36 times by the end of the final day of the bidding.[22] IndiaMART became the first online B2B marketplace to go public in India, and the first company launch its IPO in the second tenure of Modi government.[23][7]

FinancialsEdit

IndiaMart's revenue registered a 29% CAGR over FY19 to ₹507 crore while it reported a net profit of ₹20 crore in FY19, according to a note from Angel Broking.[24] It has zero debt and sizeable cash balance. As of 31 March 2019, the company had 8.27 crore (82.70 million) registered buyers and had 55.5 lakh (5.55 million) supplier storefronts in India and expect to maintain a compounded annual growth rate (CAGR) of 29 per cent for the next two years.[25]

It handles 97,000 product categories — ranging from machine parts, medical equipment and textile products to cranes, from thousands of towns and cities of India.[7] Agfa HealthCare India, Case New Holland Construction Equipment (India), Hilti India, JCB India and Nobel Hygiene are a few big suppliers on the company's marketplace.[26]

IndiaMART had an aggregate of 32.5 crore (325.8 million), 55.2 crore (552.6 million) and 72.3 crore (723.5 million) visits in fiscals 2017, 2018 and 2019, respectively, of which 20.4 crore (204.8 million), 39.6 crore (396.9 million) and 55 crore (550.3 million) were mobile traffic, which is 63%, 72% and 76% of total traffic, respectively.[27] The IndiaMART app has more than 1 crore (10 million) downloads with a 4.7 App rating on Android.[28]

Board of directorsEdit

  • Dinesh Agarwal - Managing Director, Executive Director[29]
  • Brijesh Kumar Agarwal - Whole Time Director[30]
  • Dhruv Prakash - Non-Executive Director[31]
  • Elizabeth Lucy Chapman - (Non Executive Independent Director)[32]
  • Vivek Narayan Gour - (Non Executive Independent Director)[33]
  • Rajesh Sawhney - (Non Executive Independent Director)[34]

AwardsEdit

  • Nominated among the top three at Emerging India Awards 2008[35]
  • Red Herring 100 Asia Awards 2008[36]
  • Manthan Award 2013 for Buy Leads Under E-Business & Financial Inclusion Category [37]
  • IndiaMART Bags Best Business App Award at GMASA 2017 [38]
  • ‘Best Business App’ at Drivers of Digital Summit & Awards, 2018[39]
  • ‘Best Online Classified Website’ at Drivers of Digital Summit & Awards, 2018[40]
  • ‘Best Online Classified Application’ at Drivers of Digital Summit & Awards, 2018[39]
  • India Law Awards 2019 for ‘Technology, Media and Telecommunication In-House Legal Team' [41]
  • ‘Video Content in a Business Website- Special Mention’ at Video Media Awards and Summit 2019[42]

Legal issuesEdit

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.[43][44]

ReferencesEdit

  1. ^ a b "IndiaMart InterMesh posts 12% yoy growth in revenue for Q4FY22; stock dips ~3%". www.indiainfoline.com. Retrieved 12 May 2022.
  2. ^ "B2B marketplace looking to raise ₹600 crore". Medianama. 5 July 2018. Retrieved 19 July 2018.
  3. ^ Payal Ganguly (29 June 2015). "IndiaMart ropes in Mudit Khosla to cater to sourcing needs of large companies". Times of India. Retrieved 27 January 2016.
  4. ^ Disha Sharma (4 January 2016). "Indiamart's Agarwal backs office products portal ProcMart". VCCircle. Retrieved 27 January 2016.
  5. ^ Varun Jain (16 September 2015). "Indiamart eyes Rs 2,000 cr revenue by 2020". Indiatimes.com. Retrieved 27 January 2016.
  6. ^ Ankita Rai (17 August 2015). "IndiaMART: Small business means big business". Business Standard. Retrieved 27 January 2016.
  7. ^ a b c 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.
  8. ^ "B2B ecommerce marketplace IndiaMart posts profit of Rs 31.4 Cr in first quarter of FY20". Daily Hunt. 1 August 2019. Retrieved 9 October 2019.
  9. ^ Soumya Gupta (21 February 2017). "IndiaMART To Stream 50% of Revenue from Big Brands by 2020". Business World. Retrieved 13 October 2019.
  10. ^ Dijbijay Mishra (22 July 2019). "'Dot-com bust was the best thing that happened to us'". Times Of India. Retrieved 12 October 2019.
  11. ^ VCCircle (21 January 2011). "Indiamart to raise Rs 100cr via PE route". Money Control. Retrieved 10 October 2019.
  12. ^ Times News Network (15 January 2009). "IndiaMart.com gets funds from Intel Capital". Times of India.
  13. ^ "IndiaMart.com gets funds from Intel Capital". Times of India. 14 January 2009. Retrieved 27 January 2016.
  14. ^ N Sundaresha Subramanian (16 July 2015). "Rs 1 crore a day is not far away for PE-backed Indiamart". Business Standard. Retrieved 27 January 2016.
  15. ^ Press Trust of India (18 November 2014). "IndiaMART ropes in actor Irrfan Khan as brand ambassador". Business Standard. Retrieved 11 October 2019.
  16. ^ "Indiamart raises Series C funding from Amadeus Capital, WestBridge & others". VCCircle. 9 March 2016. Retrieved 3 June 2016.
  17. ^ aparnamishra.06 (21 June 2016). "IndiaMART Invests In B2B Marketplace ProcMart". Inc42 Media. Retrieved 15 July 2020.
  18. ^ S.H, Salman (3 September 2019). "IndiaMART leads Series A investment in Vyapar". livemint.com. Retrieved 15 July 2020.
  19. ^ "IndiaMART Files Draft Papers To Raise $88.24 Mn". inc42. 3 July 2018. Retrieved 3 July 2018.
  20. ^ ET Markets.com (21 June 2019). "IndiaMART IPO opens on Monday; here's what you need to know". Economic Times. Retrieved 13 October 2019.
  21. ^ RTI (24 June 2019). "IndiaMart IPO opens, to raise over Rs 474 crore". Times Now News. Retrieved 12 October 2019.
  22. ^ a b NDTV Profit Team (26 June 2019). "IndiaMART InterMESH IPO Fully Subscribed On Day 2". NDTV Profit. Retrieved 8 October 2019.
  23. ^ 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.
  24. ^ PTI (21 April 2019). "IndiaMart expects 29% CAGR revenue growth in next 2 years". Live Mint. Retrieved 12 October 2019.
  25. ^ PTI (21 April 2019). "IndiaMart expects 29 pc CAGR revenue growth in next 2 yrs". Deccan Chronicle. Retrieved 11 October 2019.
  26. ^ Red Herring Prospectus (17 June 2019). "IndiaMART InterMESH LIMITED" (PDF). EdelweissFin.com. Retrieved 13 October 2019.
  27. ^ "INDIAMART INTERMESH LTD. (INDIAMART) - COMPANY HISTORY". Business Standard India. Business Standard. Retrieved 3 October 2019.
  28. ^ "IndiaMART App Crosses 10 Million Downloads and is Rated 4.6 Stars by Users on Google Play Store". Press Trust Of India. 30 April 2019. Retrieved 3 October 2019.
  29. ^ "Mr.Dinesh Chandra Agarwal - Profile". nseprimeir.com. Retrieved 10 October 2019.
  30. ^ "Mr.Brijesh Kumar Agrawal - Profile". nseprimeir.com. Retrieved 10 October 2019.
  31. ^ "Mr.Dhruv Prakash - Profile". nseprimeir.com. Retrieved 10 October 2019.
  32. ^ "Ms.Elizabeth Lucy Chapman - Profile". nseprimeir.com. Retrieved 10 October 2019.
  33. ^ "Mr.Vivek Narayan Gour - Profile". nseprimeir.com. Retrieved 10 October 2019.
  34. ^ "Mr.Rajesh Sawhney - Profile". nseprimeir.com. Retrieved 10 October 2019.
  35. ^ "IndiaMART.com nominated among top 3 at Emerging India Awards '08". Economic Times. 3 July 2008. Retrieved 16 September 2019.
  36. ^ "Indiamart.com wins Red Herring 100 Asia Award". Exchange4Media. 11 December 2008. Retrieved 11 September 2019.
  37. ^ IndiaMART Buy Leads Declared Undisputed Leader of Innovation in Online Space at Manthan Awards 2013 Manthan Award Dec 2013, 2014 Archived 23 September 2014 at the Wayback Machine
  38. ^ IndiaMART Bags Best Business App Award at GMASA 2017
  39. ^ a b https://www.dodawards.in/winners-backup/[dead link]
  40. ^ "Dod 2018".
  41. ^ "Welcome to the Inaugural ALB India Law Awards 2019!". Legal Business Online. 27 February 2019. Retrieved 18 September 2019.
  42. ^ "VIDEO IN WEBSITE AWARDS". Video Awards Online. 18 April 2019. Retrieved 20 September 2019.
  43. ^ Bhalla, Madhurima Nandy,Tarush (18 November 2020). "Indiamart, JD in legal war over copyright violations". mint. Retrieved 17 December 2020.
  44. ^ "Clash of Marts | Lexology". www.lexology.com. 25 November 2020. Retrieved 17 December 2020.

External linksEdit