Indiamart arm to acquire 22% in Truckhall Pvt Ltd

Indiamart Intermesh Limited (hereinafter referred as "Company") has indirectly, through its wholly owned subsidiary, Tradezeal Online Private Limited, agreed to acquire 22% of the Share Capital (on fully diluted basis) of Truckhall Private Limited (herein after referred as "Entity") through SSHA signed between the Parties.

The Company, through its wholly owned subsidiary, intends to invest a total of upto Rs. 9.68 Crores.

This investment shall be in line with the Indiamart Group's long-term objective of offering various Software as a Service (SaaS) based solutions for businesses.

Truckhall Private Limited is engaged in the business of creating online marketplace and software development for the logistics industry including running and managing a digital platform 'SuperProcure'. SuperProcure is a SaaS based platform that digitizes the entire freight sourcing, by finding the best possible rates through a transparent bidding and auction structure, and dispatch monitoring system of the logistics department of any business, offering complete and real-time visibility of all the events in the entire dispatch cycle, from indenting to delivery, via alerts, dashboards and reports, which improves collaboration amongst all stakeholders leading to better efficiency in the entire process.

The total turnover for the entity for the Financial Years ended March 31, 2020, March 31, 2019 and March 31, 2018 is Rs 1.48 Cr, Rs 3.69 Cr & Rs 10.53 Cr, respectively.

Source : Equity Bulls

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