Private Investment company WestBridge Capital divested 14.6 lakh shares in grocery app IndiaMART  for Rs 380 crore. The investment firm sold its shares in three separate deals worth Rs 2,601 per share  with a 1.8 percent discount rate at stock closing. The share closing increased by 1.25 percent at Rs  2,648.80 on BSE. IndiaMART is a B2B platform that helps buyers and suppliers connect. 

SBI mutual fund bought 10.8 lakh shares for Rs 280.9 crore while Morgan Stanley Asia purchased 1.9  lakh shares for about Rs 50 crore. The share was sold for Rs 2,601 per piece. The investment was made the same day as IndiaMart reported that it got shareholders’ approval for re-appointing the CEO and  managing director to Dinesh Aggarwal. IndiaMART offers an online platform to connect small &  Medium Enterprises, and large businesses to customers. This online marketplace provides a variety of  products including household, sports, fitness items, handicrafts, and kitchenware. 

This startup generates most of its revenue through its subscription fees and premium services,  payment processing services, and advertising platform. The application does not have any restrictions on order quantity or value. It allows sellers to join the platform and earn revenue from services,  businesses, and other leads offered by clients. The company reported a 78 percent increase in its net  profit to Rs 99.6 crore on its year-on-year basisfor the fourth quarter of FY24. The operational revenue  also increased by 17 percent to Rs 314.7 crore in the same duration.  

The B2B platform recently bought a 10 percent stake in Baldor Technologies via its secondary  transaction for Rs 89.7 crore. This startup offers a fraud detection platform that reduces the chances  of fraud and money loss. The platform offers services including financial risk management, human  resources, and HR analytics.  

Conclusion: 

WestBridge Capital is a private equity firm that divested 14.6 lakh of its shares in IndiaMART for Rs 380  crore. SBI mutual fund bought 10.8 lakh shares for Rs 280.9 crore while Morgan Stanley Asia purchased  1.9 lakh shares for about Rs 50 crore and the owner of the remaining 1.9 lakh shares isstill undisclosed.  IndiaMART offers an online platform to connect small & Medium Enterprises, and large businesses to  customers. This online marketplace provides a variety of products including household, sports, fitness  items, handicrafts, and kitchenware. The firm earns its revenue through its subscription fees and  premium services, payment processing services, and advertising platform. This private equity firm sold  its shares in three separate deals worth Rs 2,601 per share with a 1.8 percent discount rate at stock  closing. The application does not have any restrictions on order quantity or value. It allows sellers to  join the platform and earn revenue from services, businesses, and other leads offered by clients. This online B2B marketplace bought a 10 percent stake in Baldor Technologies last month via its secondary  transaction for Rs 89.7 crore. Baldor Technologies offers a fraud detection platform that reduces the  chances of fraud while offering services including financial risk management, human resources, and  HR analytics.