Announced Mon, 27 Jul · 15:06 IST
IndiaMART to invest up to Rs 65 Cr in Fleetx Technologies for 25.8% stake
INDIAMART · price
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Price reaction · full curve 14 horizons · vs prior close
-0.9%1-day move
₹1761.80
prior close
₹1760.00
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AI summary
IndiaMART InterMESH will invest up to Rs 64.99 Crores to acquire 25.80% stake in Fleetx Technologies by subscribing to 4,630 Compulsorily Convertible Preference Shares. Fleetx is an AI-powered fleet and logistics SaaS platform with turnover rising from Rs 46.15 Crore in FY23 to Rs 77.80 Crore in FY25. Fleetx is an associate company (related party). Investment aligns with IndiaMART's long-term SaaS strategy. Cash deal, expected completion within 30 days.
Likely market impact
Strategic investment in a growing SaaS logistics platform; 25.8% associate stake signals expansion beyond core marketplace business.