Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Market / Stock-market-news/  Indiamart plans IPO, process to begin next fiscal
BackBack

Indiamart plans IPO, process to begin next fiscal

Indiamart claims to have 40 lakh SMEs and over 100 big brands on its platform

Indiamart does not sell any product directly but provides business leads to companies. Above, Indiamart founder and CEO Dinesh Agarwal. Photo: Wikimedia CommonsPremium
Indiamart does not sell any product directly but provides business leads to companies. Above, Indiamart founder and CEO Dinesh Agarwal. Photo: Wikimedia Commons

New Delhi: E-commerce firm Indiamart is planning to launch its initial public offer (IPO) for which it will start the process next fiscal, a top official of the company said on Friday.

“We will go for IPO soon. Basically, we are not in need to raise external money but we want to give an exit route to existing investors. Most of the equity sale will happen in secondary market," Indiamart founder and CEO Dinesh Agarwal told PTI at TiEcon Delhi NCR.

Existing investors of Indiamart include Intel Capital, Amadeus Capital, WestBridge Capital and Quona Capital.

“As a promoter I am looking for dilution of some stake and some investors like Intel Capital may look for partial sale of stake. That is the basic reason (for the IPO)," Agarwal said.

Indiamart started bringing small and medium enterprises (SMEs) on its platform to help them generate sales. He said the company started making profits in last fiscal after continuous focus on expansion.

“Now we have also brought big brands like Tata, Mahindra & Mahindra, Godrej and others on our platform. We earned average revenue of Rs30,000-40,000 per SME annually. From big players, our average revenue is Rs3-4 lakh," Agarwal said.

The company claims to have 40 lakh SMEs and over 100 big brands on its platform. It does not sell any product directly but provides business leads to companies.

“Our revenue has been growing in the range of 30-40% annually. With big brands coming and launch of some new services, we expect our margins to increase by around 10%," Agarwal said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 15 Dec 2017, 05:21 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App