Indiamart To Launch IPO

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    E-commerce firm Indiamart is planning to launch its initial public offer for which it will start the process next fiscal, a top official of the company today said.

    "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 the 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. 6 Biggest Mistakes Stock Market Investors Makes

    Indiamart To Launch IPO

    "As a promoter, I am looking for dilution of some stake, and some investors like Intel Capital may look for the partial sale of the 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 Rs 30,000-40,000 per SME annually. From big players, our average revenue is Rs 3-4 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 per cent annually. With big brands coming and launch of some new services, we expect our margins to increase by around 10 per cent," Agarwal said. What Are The Different Ways To Invest In Mutual Funds?

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    Read more about: indiamart ipo
    Story first published: Saturday, December 16, 2017, 11:14 [IST]
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