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Indiamart Intermesh moves up on entering into agreement to invest around Rs 8 crore in Mobisy Technologies
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Indiamart Intermesh is currently trading at Rs. 2726.20, up by 17.75 points or 0.66% from its previous closing of Rs. 2708.45 on the BSE.
The scrip opened at Rs. 2730.00 and has touched a high and low of Rs. 2754.45 and Rs. 2678.20 respectively. So far 6465 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3293.45 on 07-Sep-2023 and a 52 week low of Rs. 2043.65 on 23-Dec-2022.
Last one week high and low of the scrip stood at Rs. 2754.45 and Rs. 2580.00 respectively. The current market cap of the company is Rs. 16358.11 crore.
The promoters holding in the company stood at 49.21%, while Institutions and Non-Institutions held 32.80% and 18.00% respectively.
Indiamart Intermesh has entered into an agreement to invest around Rs 8 crore in Mobisy Technologies by subscribing 80,000 Compulsorily Convertible Debentures. This investment is in line with the Company’s long term objective of offering various software as a service (SAAS) based solutions for businesses.
The aggregate shareholding of the Company currently stands at 25.08%. However, post investment shareholding through the subscription of the said CCDs shall depend on the conversion event of the CCDs.
Indiamart Intermesh is India’s largest online B2B marketplace for business products and services.
