IndiaMART InterMESH IPO – Review, Allotment, Subscription, GMP, Date & more

IndiaMART InterMESH is one of the leading Market assessment of B2B e-commerce and digital classifieds in India. IndiaMART InterMESH IPO consists of 4,288,801 Equity shares of face value Rs.10 each.

Let’s have a detailed review of the company and analytics of the IndiaMART InterMESH IPO release date, IPO offer price, subscription, IndiaMART InterMESH IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


IndiaMART InterMESH IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 7.8/10
Industry Ranking 7.7/10
Company Background 7.9/10
Company Reputation 7.4/10
Competitive Edge 7.7/10
Financial Statements 7.8/10
Popularity Index 7.7/10
Promoters Reputation 7.7/10
Retail Appetite 7.4/10
Top Brokers Review 7.4/10
Overall Ratings 7.7/10
Star Ratings ★★★★☆

Summary of IndiaMART InterMESH  IPO

IndiaMART InterMESH  IPOIndiaMART InterMESH commissioned the KPMG Report for the purposes of confirming their understanding of the industry in connection with the Offer. Neither they, nor any of the Managers, nor any other person connected with the Offer has verified the information in the KPMG Report. They may also base their opinion on estimates, projections, forecasts and assumptions that may prove to be incorrect. Prospective investors are advised not to unduly rely on the KPMG Report when making their investment decision.

They are India’s largest online B2B marketplace for business products and services with approximately 60% market share of the online B2B classifieds space in India in fiscal 2017, according to KPMG. They primarily operate through their product and supplier discovery marketplace, www.indiamart.com or “IndiaMART”.

Their online marketplace provides a platform for mostly business buyers, to discover products and services and contact the suppliers of such business products and services. IndiaMART had an aggregate of 325.8 million and 552.6 million visits in fiscal 2017 and 2018, respectively, of which 204.8 million and 396.9 million comprised mobile traffic, or 63% and 72% of total traffic, respectively.

According to the Restated Financial Statements,

According to KPMG, the mobile internet has been increasingly contributing to digital media advertising spends increasing from 53% in 2015 to 78% in 2017. Further, according to KPMG, mobile internet is considered to be the primary driver for overall internet growth, with mobile revenue projected to increase from Rs 1,351 billion in fiscal 2018 to Rs 2,489 billion in fiscal 2022. The mobile website and app that they developed are capable of handling the dynamic needs of their buyers and suppliers while remaining reliable, secure and scalable.

Their mobile website and app together accounted for 72% of total traffic to IndiaMART as of March 31, 2018, compared to 63% as of March 31, 2017. Their IndiaMART mobile website and app is designed to optimize the buyers’ experience in product, service and supplier discovery, and has generated 396.9 million visits during the year ended March 31, 2018.

Their IndiaMART mobile app had been installed 6.76 million times and 62% of paid suppliers have been active on the app in the last 30 days as of March 31, 2018, and is available for Android and iOS devices. As of March 31, 2018, 172,897 users had rated their IndiaMART app 4.52 out of 5.0 on the Google Play store, the main Android app store.

While their IndiaMART app allows buyers to search for products and services, the mobile app also serves as an effective lead management system for suppliers which allows suppliers to manage buyer enquiries, and call or reply to enquiries on their mobile devices. They continue to make investments in mobile web and app development by recruiting skilled workforce and to further enhance their user experience, provide innovatively features to their buyers and suppliers and increase the speed and efficiency of their mobile platforms.

The Promoter of this company is Dinesh Chandra Agarwal and Brijesh Agrawal. The lead manager to the issue is ICICI Securities Limited, Edelweiss Financial Services Limited, Jefferies India Private Limited and the Registrar to this issue is Link Intime India Private Limited.


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IndiaMART InterMESH IPO Date

The opening and the closing date of IPO of IndiaMART InterMESH is not known yet.


IndiaMART InterMESH IPO Subscription

Day / Date QIB NII RII Total Subscription
Day 1      
Day 2        
Day 3        
Day 4        
Day 5        

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


IndiaMART InterMESH IPO Allotment Status

Click here to check the allotment status.


IndiaMART InterMESH IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


IndiaMART InterMESH IPO Equity Share Offering

4,288,801 Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed so it will be aggregated to Rs (4,288,801 * Issue Price).


IndiaMART InterMESH Limited – Company Overview

They refer to sellers of products and services listed on their IndiaMART marketplace as “suppliers”, and suppliers that subscribe to paid services on IndiaMART as “paying subscription suppliers”. They refer to each visitor to IndiaMART, including, among others, each separate visitor from the same business entity or establishment, for whom they obtain basic identifying and contact information as their “registered buyer”. As of March 31, 2018, they had 59.81 million registered buyers, and they had 4.72 million supplier storefronts in India.

IndiaMART provides a robust two-way discovery marketplace connecting buyers and suppliers. Buyers locate suppliers on their marketplace, including both Indian small and medium enterprises, or “SMEs”, and large corporates, by viewing a webpage containing the supplier’s product and service listings, or a “supplier storefront”, or by posting requests for quotes called “RFQs” or “BuyLeads”. Their marketplace offerings from which buyers can search for and view product and service listings cover a wide range of industries spread across India, rather than relying on a single target industry or type of geography. As of March 31, 2018, they had organized their listings across 52 industries. 

Competitive Strengths of IndiaMART InterMESH Limited:

  • IndiaMART’s strong network effects and brand recognition drives leadership in the B2B marketplace in India.
  • Comprehensive, convenient and reliable platforms for buyers.
  • Efficient and effective marketing platform for suppliers.
  • Deep understanding of online trade and commerce in India that drives innovative solutions.
  • Robust mobile platform.
  • Experienced Management Team and Large Sales and Service Representatives Team with Proven Track Record
    of Performance.

Business strategies of IndiaMART InterMESH Limited:

  • Continue to increase the size of IndiaMART marketplace.
  • Attract larger suppliers and leading brands while growing their core SME segment supplier base.
  • Enhance their buyers’ experience.
  • Improve supplier engagement, services, retention and monetization.
  • Continue investing in their mobile platforms and capabilities.

IndiaMART InterMESH Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & millions)
31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 5,496.40 3,558.78 2,641.67
Total Revenue 4,100.61 3,223.47 2,428.86
Total Expense 5,975.43 3,354.43 3,012.96
Profit After Tax 1,148.56 2.02 4.55

Earnings per Equity Share (in millions)

31-Dec-18 31-Mar-17 31-Mar-16
Basic  37.83 7.14 32.05
Diluted  37.83 7.14 32.05

From the above statements, one could find that the IndiaMART InterMESH Limited may perform well.


IndiaMART InterMESH IPO – Promoters

The Promoter of this company are:

1) Dinesh Chandra Agarwal;

2) Brijesh Agrawal.

List of Related Parties (Key Managerial Personnel)

  • Arjun A Mehrotra/Nidhi Wangnoo
  • Yash Modi
  • Jayaraman Ganapathy
  • Shanti Gopalkrishnan

Interest in the promotion of the Company

All their Directors may be deemed to be interested in the extent of fees if any, payable to them for attending meetings of the Board or a committee thereof, as well as to the extent of other remuneration, commission and reimbursement of expenses if any, payable to them by their Company.

Their Directors may also be interested in the extent of Equity Shares, if any, held by them or held by the entities in which they are associated as promoters, directors, partners, proprietors or trustees or held by their relatives or that may be subscribed by or allotted to the companies, firms, ventures or trusts in which they are interested as promoters, directors, partners, proprietors, members or trustees, pursuant to the Offer.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires the approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

Promoters have not shown any interest in acquiring the intellectual rights of the company.


IndiaMART InterMESH IPO Offer Details or Issue Details 

Offer Up to 4,288,801 Equity Shares aggregating up to Rs *million
Of which
QIB Category Not more than *Equity Shares, aggregating up to Rs * million
Of which:
 Anchor Investor Portion Up to * Equity Shares
Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor Investor Portion is fully subscribed) Upto * Equity Shares
Of which:
– Available for allocation to Mutual Funds only (5% of the QIB Category (excluding the Anchor Investor Portion)) Up to * Equity Shares
Pre and post-Offer Equity Shares
Equity Shares outstanding as of the date of this Draft Red
Herring Prospectus
24,717,461 Equity Shares
Equity Shares outstanding prior to the Offer 28,592,007 Equity Shares
Equity Shares outstanding prior to the offer 28,592,007 Equity Shares
Use of Offer Proceeds As the Offer comprises an Offer for Sale, their Company will not receive any proceeds from the Offer.

IndiaMART InterMESH IPO Issue Object

  • Monitoring of Utilization of Funds and
  • General corporate purposes.

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IndiaMART InterMESH IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Strong network effects and brand recognition, driving leadership in the B2B marketplace in India;
  • Comprehensive, convenient and reliable platforms for buyers;
  • Efficient and effective marketing platform for suppliers;
  • Deep understanding of online trade and commerce in India that drives innovative solutions;
  • Robust mobile platform; and
  • The experienced management team and large sales and service representatives team with the proven track record
    of performance.

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-18 37.83 23.20 313.00
31-Mar-17 7.14 5.17
31-Mar-16 32.05 24.34
  • Industry P/E Ratio:
Particulars P/E ratio
Average
Highest
Lowest
  • Competitive Peers:

There are no comparable listed companies in India engaged substantially in the same line of business as their Company, hence the comparison with industry peers is not applicable.


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Manorama Industries IPO Lead Managers

Lead Managers
ICICI Securities Limited

Edelweiss Financial Services Limited

Jefferies India Private Limited

 

Registrar to the Offer
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083, Maharashtra, India
Telephone: +91 22 4918 6200 | Facsimile: +91 22 4918 6195
E-mail:
Investor grievance e-mail:
Website: www.linkintime.co.in
Contact person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058

Other Details:

  • Statutory Auditor – S. R. Batliboi & Associates LLP, Chartered Accountants
  • Bankers to the Company –  ICICI Bank, HDFC Bank.

IndiaMART InterMESH IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 7.2/10 7.3/10 7.2/10 7.1/10 7.1/10
Sharekhan 7.2/10 7.1/10 7.7/10 7.1/10 7.2/10
Kotak Securities 7.3/10 7.2/10 7.3/10 7.1/10 7.3/10
ICICI Direct 7.3/10 7.3/10 7.7/10 7.1/10 7.1/10
IIFL 7.2/10 7.2/10 7.8/10 7.0/10 7.1/10
Edelweiss 7.2/10 7.3/10 7.3/10 7.3/10 7.2/10
Zerodha 7.3/10 7.1/10 7.2/10 7.1/10 7.0/10
5Paisa 7.1/10 7.1/10 7.3/10 7.1/10 7.1/10
Karvy 7.3/10 7.3/10 7.2/10 7.1/10 7.1/10
Motilal Oswal 7.1/10 7.1/10 7.7/10 7.3/10 7.2/10

The ratings would be updated once the financials and the other details of the IPO are released.


IndiaMART InterMESH IPO Grey Market Premium

The IndiaMART InterMESH IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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IndiaMART InterMESH IPO News

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