B2B ecommerce agency Indiamart on Wednesday acquired stake in two corporations, Shipway Know-how and Truckhall, for about Rs 20 crore to strengthen its know-how providing in logistics administration, in accordance with a regulatory submitting.
The corporate has acquired 26 p.c stake in software program firm Shipway Know-how for as much as Rs 18.2 crore, and a further 3.02 p.c stake in Truckhall for Rs 1.33 crore.
In keeping with the submitting, Indiamart Intermesh, via its wholly-owned subsidiary Tradezeal On-line will purchase 100 fairness shares and 4,088 compulsorily convertible choice shares (CCPS) of Shipway Applied sciences.
“The ultimate combination shareholding of the corporate, submit this funding, within the mentioned entity could be 26 p.c of the share capital on a completely transformed and diluted foundation,” the submitting mentioned.
Shipway is engaged within the enterprise of creating software-as-a-service (SaaS)-based options, which permit small companies to automate their delivery operations.
Its flagship product ‘Shipway’ permits sellers to enhance the delivery expertise for his or her clients by offering branded monitoring pages, sending out automated supply notifications, and capturing buyer suggestions.
It additionally has one other product that permits sellers to automate their back-office delivery workflows, together with courier allocation, bulk label printing, fraud detection, and returns administration.
Indiamart via Tradezeal On-line will purchase 1,779 fairness shares for a complete consideration of as much as Rs 1.33 crore at a worth of Rs 7,477 per share from IIM-Calcutta Innovation Park in Truckhall.
Truckhall is within the enterprise of making a web-based market and software program growth for the logistics business, together with operating and managing a digital platform ‘SuperProcure’.
On completion of the transaction, Indiamart’s stake within the firm will improve to 25.02 p.c in Truckhall.
Based by cousins Dinesh Agarwal and Brijesh Agrawal in 1996 with seed cash of Rs 40,000, IndiaMART InterMesh is a web-based B2B market for enterprise services, connecting consumers with suppliers. The corporate focuses on offering a platform to small and medium enterprises (SMEs), giant enterprises, in addition to people.
(Disclaimer: Further background info has been added to this PTI copy for context)