Announced Mon, 27 Jul · 15:07 IST
IndiaMART invests up to Rs 65 crore in Fleetx Technologies for 25.8% stake
INDIAMART · price
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₹1761.80
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₹1760.00
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AI summary
IndiaMART will invest up to Rs 64.98 crore in Fleetx Technologies by subscribing to 4,630 Compulsorily Convertible Preference Shares, taking its stake to 25.80 percent on a fully diluted basis. Fleetx is an AI-powered fleet and logistics SaaS platform with FY25 turnover of Rs 77.80 crore (FY24: Rs 60.14 crore). It is an existing associate (related party). Deal is all cash, to close in 30 days, and aligns with IndiaMART's SaaS growth strategy.
Likely market impact
Strengthens IndiaMART's B2B SaaS play. Related-party deal, so fair-pricing disclosure matters. Investment size is small versus IndiaMART's scale.