Tender Offer | ₹500.00 Crores | Listed at BSE, NSE | Thu, Aug 31, 2023 - Wed, Sep 6, 2023
Indiamart Intermesh Ltd. Buyback is a tender offer for the repurchase of up to 0.13 crore equity shares at a buyback price of ₹4000 per share with a face value of ₹10 per share, aggregating to ₹500.00 crores.
The record date for determining eligible shareholders is Aug 25, 2023. Shareholders holding equity shares as on the record date are eligible to participate in the buyback.
The buyback opens on Aug 31, 2023 and closes on Sep 6, 2023, with the last date for receipt of tender forms being Sep 6, 2023.
The finalisation of buyback acceptance is expected on Sep 12, 2023, followed by settlement of bids on Sep 13, 2023.
Nuvama Wealth Management Ltd. is the Manager to the Buyback and MUFG Intime India Pvt.Ltd. is the Registrar and Nuvama Wealth Management Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the Indiamart Intermesh Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Thu, Aug 31, 2023
Offer Closing Date
Wed, Sep 6, 2023
Buyback Price
₹4000 per share
Record Date
August 25, 2023
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 85 Fully paid-up Equity Shares held on the Record Date. | 187,500.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 55 Fully paid-up Equity Shares held on the Record Date. | 1,062,500.00 |
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-22 | 2,948.85 | 865.68 | 297.62 |
| 31-Mar-23 | 3,444.63 | 1,165.93 | 283.83 |
| Amount in ₹ Crore | |||
Incorporated in 1999, IndiaMART InterMESH Limited is an online B2B marketplace to deal with business products and services. They offer an online platform for business buyers to connect with suppliers of various products and services.
The buyers can place business inquiries by visiting suppliers (both small and medium) online at this marketplace and exploring the products and services listed offered by the suppliers. The company offers products and services across 52 industries and this marketplace is accessible through desktop and mobile platforms.
The company earns revenue primarily by selling its subscription packages available on monthly, and yearly basis. This package offers the following benefits to the suppliers:
1. Listing of the supplier storefronts on online marketplace based on priority,
2. Access to the lead management system,
3. Integrated access to a 3rd party online payment gateway, and
4. Access to RFQs or buy leads
In addition, the company also generates revenue by advertising, sale of RFQ credits and payment facilitation service.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 3,205.00 | 2,612.65 | 2,885.62 |
| Jun-2023 | 5,965.00 | 2,783.55 | 4,774.53 |
| May-2023 | 6,101.00 | 5,331.70 | 5,736.02 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jul-2023 | 3,335.55 | 2,611.40 | 2,886.08 |
| Jun-2023 | 5,969.00 | 2,781.65 | 4,774.59 |
| May-2023 | 6,097.00 | 5,327.05 | 5,736.63 |
The Buyback is being undertaken for the following reasons:
Indiamart Intermesh Ltd.
1st Floor, 29 Daryaganj,
Netaji Subhash Marg,
New Delhi 110 002, India
New Delhi, New Delhi, 110002
Lead Manager(s)
Registered Broker
The Indiamart Intermesh Buyback 2023 opens on August 31, 2023, and closes on September 6, 2023.
Last date to be eligible to participate in buyback is August 24, 2023.
The Indiamart Intermesh Buyback 2023 is a Tender Offer.
Indiamart Intermesh Buyback 2023 Schedule
| Buyback Opening Date | August 31, 2023 |
| Buyback Closing Date | September 6, 2023 |
| Last Date for receipt of Tender Forms | September 6, 2023 |
| Finalisation of Buyback Acceptance | September 12, 2023 |
| Last Date for settlment of bids | September 13, 2023 |
| Last Date for Extinguishment of Shares | September 25, 2023 |
The Indiamart Intermesh Buyback 2023 is being offered at Rs ₹4000 per share.
| Category | Entitlement Ratio of Buyback | Shares Offered |
|---|---|---|
| Reserved Category for Small Shareholders | 7 Equity Shares out of every 85 Fully paid-up Equity Shares held on the Record Date. | 187,500.00 |
| General Category for all other Eligible Shareholders | 1 Equity Shares out of every 55 Fully paid-up Equity Shares held on the Record Date. | 1,062,500.00 |
The issue size of Indiamart Intermesh Buyback 2023 is 12,50,000 equity shares at ₹4000 per share aggregating up to ₹500.00 Crores.
The Buyback is being undertaken for the following reasons:
All the eligible Shareholders of the Company holding either Physical Shares or Demat Shares as on the Record Date can participate in the buyback offer through their Stock Broker.
The eligible shareholder holding the shares in Demat form needs to inform their broker the details of the Equity shares they wish to tender in the Buyback Offer. The shareholder needs to transfer the tendered shares to a Special account of the clearing corporation. The broker, in turn, would place an order on the stock exchange for the buyback.
The eligible shareholder holding the shares in physical form needs to approach their broker with original share certificates and supporting documents. Upon completion of document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS to the registrar.
The tender form and TRS are optional in the case of Demat shares but mandatory in the case of physical shares.
The Indiamart Intermesh Buyback 2023 offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
