IndiaMART

Last updated

IndiaMART
Company type Public
ISIN INE933S01016
Industry
Founded1996;28 years ago (1996)
Founders
Headquarters
Noida, Uttar Pradesh
,
India
Area served
India
RevenueIncrease2.svg₹1,196 crore (US$140 million) (FY24) [1]
Increase2.svg₹334 crore (US$40 million) (FY24) [1]
Number of employees
5384
Subsidiaries
  • Tolexo
  • Tradezeal International
  • Busy Infotech [2]
Website indiamart.com

IndiaMART InterMESH Ltd is India's largest B2B online marketplace, connecting buyers and suppliers. It is headquartered in Noida and currently hosts 194 million registered buyers and 7.9 million sellers, listed on its marketplace. It has over 108 million products listed in over 98,000 product categories in across 56 industry groups. [3] [4]

Contents

In addition to its headquarters in Noida, the company has branch offices in Ahmedabad, Bengaluru, Chandigarh, Chennai, Coimbatore, Delhi, Faridabad, Gandhinagar, Ghaziabad, Gurugram, Hyderabad, Indore, Jaipur, Jalandhar, Kanpur, Kochi, Kolkata, Lucknow, Ludhiana, Madurai, Meerut, Mumbai, Nagpur, Nashik, Navi Mumbai, Puducherry, Pune, Rajkot, Surat, Tiruppur, Tiruvallur and Vadodara.

The company started its operations in 1996 when Dinesh Agarwal and Brijesh Agrawal founded the website IndiaMART.com, [5] a business-to-business portal to connect Indian manufacturers with buyers. [6] [7]

History

Founded in 1996 by two cousins Dinesh Agarwal and Brijesh Agrawal, IndiaMART started when international demand for Indian products was on the rise. IndiaMART began by providing free listings to SMEs and offering them paid value-added services for website creation, design and maintenance. At that time India had only 15,000 internet users. [8]

Knowing that computer and internet penetration was low in those days among Indian SMEs, the company printed and faxed the enquiries received from interested buyers to listed SMEs across geographies.

While the mission of company was to ‘make businesses doing easy’, the company business focus evolved over the years. In the early years of inception, the company created value for local SMEs by presenting them to potential overseas buyers through an online business directory. As India experienced increased internet penetration, giving rise to fast-growing domestic ecommerce market, the company shifted to focus on facilitating business among its local clients. IndiaMART grew to become the world’s second largest online B2B marketplace, trailing behind Alibaba.

In order to enable domestic sellers to turn buyers’ enquiries into sales, the company today engages in intensive service innovation and rolled out such leading-edge services as Buy Leads, Buyer Help-desk, enquiries-via SMS and preferred number service. [9]

In November 2014, IndiaMART started promotional campaigns featuring Indian film actor Irrfan Khan as its brand ambassador with the tagline "Kaam Yahin Banta Hai". [10] In March 2016, it raised Series C Funding from Amadeus Capital Partners and Quona Capital to scale up the activities of IndiaMART and Tolexo. [11]

In 2016 and 2019, IndiaMART invested in ProcMart and Vyapar. [12] [13] In June 2018, IndiaMART filled draft papers with SEBI to raise ₹600 crore through IPO and list on NSE and BSE. [14] On July 4, 2019, IndiaMART went public [15] via an IPO of ₹474 crore. [16] [17] The issue was oversubscribed by 36 times by the end of the final day of the bidding. [17] IndiaMART became the first online B2B marketplace to go public in India, and the first company to launch its IPO in the second tenure of Modi government. [18] [19]

As of 2019, IndiaMART was the largest Indian B2B marketplace for businesses with about 60% market share, according to KPMG. [19] In January 2022, IndiaMART acquired 100% stake in accounting software solution provider - Busy Infotech for 500 Crores [20]

Financials

As of Q4 FY2024, IndiaMART reported a consolidated revenue from operations of INR 1,197 Crore, with YoY growth of 21%, according to their financial results. As of March 2024, the company has 194 million registered buyers, 7.9 million Indian supplier storefronts and 214K paid suppliers.

It handles 108 million products across 56 industry groups. It hosts 98,000 product categories - ranging from construction and building raw materials, industry plants, machinery and packaging material to electrical equipment, apparel to furniture, housewares, cosmetics and many more. Godrej, Blue star, Tata Motors, Automat, Essae, Hilti, TMTL are some of the biggest suppliers with IndiaMART. [21] [22]

IndiaMART has 93 million unique business enquiries in fiscal 2024. The IndiaMART app has 4.7 App rating on Google Play store.

In November 2020, IndiaMART filed a copyright infringement lawsuit against Justdial before the Delhi High Court on allegations of copying website compilations for the proposed JD Mart business-to-business marketplace. [23] [24]

Related Research Articles

<span class="mw-page-title-main">Reliance Capital</span> Indian Financial Services company

Reliance Capital Limited is an Indian diversified financial services holding company promoted by Reliance Anil Dhirubhai Ambani Group. Reliance Capital, a constituent of Nifty Midcap 50 and MSCI Global Small Cap Index, is a part of the Reliance Group. It is amongst India's leading and most valuable financial services companies in the private sector. As on 31 March 2017, the net worth of the company stood at ₹16,548 crore, while its total assets as on the date stood at ₹82,209 crore. In Fortune India 500 list of 2018, Reliance Capital was ranked as the 77th largest corporation in India with 5th rank in 'Non-Banking Finance' category.

<span class="mw-page-title-main">HCLTech</span> Indian multinational technology company

HCL Technologies Limited is an Indian multinational information technology (IT) consulting company headquartered in Noida. Founded by Shiv Nadar, it was spun out in 1991 when HCL entered into the software services business. The company has offices in 60 countries and over 220,000 employees.

PayMate is a business-to-business (B2B) digital and financial services company headquartered in Mumbai.

<span class="mw-page-title-main">Reliance Retail</span> Indian retail company

Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs. As of 2023, it has over 245,000 employees at 18,000 store locations in 7,000 towns. Apart from physical stores, the company also sells products on its e-commerce channels.

DHgate.com is a Chinese business-to-business (B2B) and Business-to-consumer cross-border e-commerce marketplace that facilitates the sale of manufactured products from suppliers to small and medium retailers. It is one of the largest B2B-cross-border e-commerce trade platforms in China. The company is based in Beijing and has offices worldwide, including in the US and UK.

Snapdeal is an Indian e-commerce company, based in New Delhi, India. It was founded in February 2010 by Kunal Bahl and Rohit Bansal.

<span class="mw-page-title-main">DMart</span> Indian retail chain of hypermarkets

Avenue Supermarts Limited, d/b/a DMart, is an Indian retail corporation that operates a chain of supermarkets and hypermarkets. The company was founded by Radhakishan Damani and is based in Mumbai. As of March 2024, DMart has 365 stores across 12 states and union territories in India.

TradeIndia is an online Business to Business (B2B) portal for small businesses based in India and around the globe. The portal was started in 1996 by Bikky Khosla and is maintained and promoted under the flagship company, Infocom Network Pvt. Ltd. The company is headquartered in New Delhi, India, and has branch offices in 35 cities across India. It employs over 1200 professionals.

<span class="mw-page-title-main">RBL Bank</span> Indian bank

RBL Bank, formerly known as Ratnakar Bank Limited, is an Indian private sector bank founded in 1943 and headquartered in Mumbai. It offers services across five verticals: corporate banking, commercial banking, branch banking and retail liabilities, retail assets, and treasury and financial markets operations.

OYO Rooms, also known as OYO Hotels & Homes, is an Indian multinational hospitality chain of leased and franchised hotels, homes, and living spaces. Founded in 2012 by Ritesh Agarwal, OYO initially consisted mainly of budget hotels. As of January 2020, it has more than 43,000 properties and 1 million rooms across 800 cities in 80 countries.

CarTrade.com is an Indian online auto classifieds platform serving as a marketplace for users interested in buying and selling new and used vehicles. Headquartered in Mumbai, the company also owns other vehicle trading platforms such as CarWale, BikeWale and CarTradeExchange, the omnichannel vehicle auction company Shriram Automall, the vehicle inspection company Adroit Auto, and the classifieds portal OLX India.

FSN E-Commerce Ventures Ltd is an Indian cosmetics, personal care, skin care and perfume company, headquartered in Mumbai. It sells beauty, wellness and fashion products through its website, mobile app and over 100 physical stores. In 2020, it became the first Indian unicorn startup headed by a woman.

Dinesh Agarwal is an Indian entrepreneur, founder and CEO of IndiaMART, an online B2B marketplace in India.

weXSTOK is an online portal in India, based out of Mumbai, with a dynamic pricing business model for the B2B Textile marketplaces. The platform facilitates buying and selling of ready and excess goods in the textile industry, via its e-commerce mobile-first interface.

Bajaj Finance Limited (BFL) is a deposit-taking Indian non-banking financial company headquartered in Pune. It has a customer base of 83.64 million and holds assets under management worth ₹330,615 crore (US$40 billion), as of March 2024.

<span class="mw-page-title-main">AU Small Finance Bank</span> Indian small finance commercial bank

AU Small Finance Bank Limited is an Indian scheduled commercial small finance bank and India’s largest tech-led small finance bank, based in Jaipur. It was founded as vehicle finance company and NBFC, AU Financiers (India) Ltd in 1996 and converted into a full-fledged small finance bank on 19 April 2017.

Delhivery is an Indian logistics and supply chain company, based in Gurgaon. It was founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati. The company has over 85 fulfillment centers, 29 automated sort centers, 160 hubs, 7,500+ partner centers, and 3,500+ direct delivery centers, as of 2021. About two-thirds of its revenue comes from providing third-party logistics and delivery services to e-commerce companies.

Swiggy is an Indian online food ordering and delivery company. Founded in 2014, Swiggy is headquartered in Bangalore and operates in more than 580 Indian cities, as of July 2023. Besides food delivery, the platform also provides quick commerce services under the name Swiggy Instamart, and same-day package deliveries with Swiggy Genie.

<span class="mw-page-title-main">One97 Communications</span> Indian multinational technology company

One97 Communications Ltd is an Indian multinational technology company, headquartered in Noida. It was founded in 2000 by Vijay Shekhar Sharma. Through its subsidiaries and businesses, the company offers digital payment and financial services to consumers and merchants in India. It also provides mobile advertising, marketing and payments for merchants.

<span class="mw-page-title-main">ProcMart</span>

ProcMart is an Indian B2B e-commerce and supply chain company involved in procuring and supplying Safety items. Anish Popli is the founder and CEO of the company.

References

  1. 1 2 "Q4 results review: IndiaMART InterMESH zooms 10% despite target price cuts as Q4 PAT jumps 79%". livemint.com. Mint. Retrieved 2 May 2024.
  2. ↑ "B2B marketplace looking to raise ₹600 crore". Medianama. 5 July 2018. Retrieved 19 July 2018.
  3. ↑ "About Us - IndiaMART". indiamart.com. Retrieved 25 June 2024.
  4. ↑ Corporate (22 February 2024). "IndiaMART is a conversational commerce hub, thanks to early adoption of AI/ML: Dinesh Gulati, COO". IndiaMART. Retrieved 17 July 2024.
  5. ↑ Disha Sharma (4 January 2016). "Indiamart's Agarwal backs office products portal ProcMart". VCCircle. Archived from the original on 25 October 2016. Retrieved 27 January 2016.
  6. ↑ Varun Jain (16 September 2015). "Indiamart eyes Rs 2,000 cr revenue by 2020". Indiatimes.com . Retrieved 27 January 2016.
  7. ↑ Ankita Rai (17 August 2015). "IndiaMART: Small business means big business". Business Standard . Retrieved 27 January 2016.
  8. ↑ Dijbijay Mishra (22 July 2019). "'Dot-com bust was the best thing that happened to us'". Times Of India. Retrieved 12 October 2019.
  9. ↑ "Indiamart Helpdesk" . Retrieved 17 July 2024.
  10. ↑ Press Trust of India (18 November 2014). "IndiaMART ropes in actor Irrfan Khan as brand ambassador". Business Standard. Retrieved 11 October 2019.
  11. ↑ "Indiamart raises Series C funding from Amadeus Capital, WestBridge & others". VCCircle. 9 March 2016. Archived from the original on 20 July 2016. Retrieved 3 June 2016.
  12. ↑ aparnamishra.06 (21 June 2016). "IndiaMART Invests In B2B Marketplace ProcMart". Inc42 Media. Retrieved 15 July 2020.{{cite web}}: CS1 maint: numeric names: authors list (link)
  13. ↑ S.H, Salman (3 September 2019). "IndiaMART leads Series A investment in Vyapar". livemint.com. Retrieved 15 July 2020.
  14. ↑ "IndiaMART Files Draft Papers To Raise $88.24 Mn". inc42. 3 July 2018. Retrieved 3 July 2018.
  15. ↑ ET Markets.com (21 June 2019). "IndiaMART IPO opens on Monday; here's what you need to know". Economic Times. Retrieved 13 October 2019.
  16. ↑ RTI (24 June 2019). "IndiaMart IPO opens, to raise over Rs 474 crore". Times Now News. Retrieved 12 October 2019.
  17. 1 2 NDTV Profit Team (26 June 2019). "IndiaMART InterMESH IPO Fully Subscribed On Day 2". NDTV Profit. Retrieved 8 October 2019.
  18. ↑ Swaraj Singh Dhanjal (18 June 2019). "Indiamart set to become first firm to test IPO market under Modi 2.0". Live Mint. Retrieved 10 October 2019.
  19. 1 2 Manish Singh (6 July 2019). "A 23-year-old B2B company has shown how keen India is for tech IPOs IndiaMART is the first business-to-business e-commerce firm to go public in India". Tech Crunch. Retrieved 15 October 2019.
  20. ↑ "Indiamart Intermesh to acquire accounting software solutions provider - Busy Infotech". business-standard.com. Business Standar. Retrieved 28 June 2024.
  21. ↑ "Financial Results/Statements".
  22. ↑ "Will IndiaMART InterMESH maintain its market leadership?". 13 June 2024.
  23. ↑ Bhalla, Madhurima Nandy, Tarush (18 November 2020). "Indiamart, JD in legal war over copyright violations". mint. Retrieved 17 December 2020.{{cite web}}: CS1 maint: multiple names: authors list (link)
  24. ↑ "Clash of Marts | Lexology". www.lexology.com. 25 November 2020. Retrieved 17 December 2020.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.