IndiaMART Acquires 26% Stake In IB Monotaro; To Focus Beyond Made-To-Order B2B Ecommerce
India, Feb. 24 -- B2B marketplace IndiaMART has acquired a 26% stake in Japan-based IB Monotaro, buying the 810K shares from Emtex Engineering for a total consideration of INR 104.2 Cr. The venture aims to serve B2B businesses by offering an end-to-end commerce experience enablement.
Pursuant to this transaction, Monotaro (the parent company of IB Monotaro) will hold a 51.6% stake, IndiaMART's parent company will hold a 26% stake and Emtex Engineering which represents the promoter group and early investors will hold a 22.4% stake in IB Monotaro.
After the announcement, shares of IndiaMART InterMESH (the parent company) rose by 2.24% hitting an intraday high of INR 4,930 on NSE.
IB Monotaro under its brand name 'Industry Buying' is enga...
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