Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Forensic Analyst

Equity Capital Markets

IndiaMART InterMESH Limited (IndiaMart) India's largest online B2B marketplace with approximately 60% market share of the online B2B classifieds space in India has come up with IPO.Company has come up with IPO to provide a partial exit to some of its existing stakeholders; the size of IPO is of 4,887,862 equity shares of INR 10 each via book building route. It has fixed a price band of INR 970 – INR 973 and making IPO size of INR 4,741.20 MN to INR 4,755.90 MN based on lower and upper price bands.There are few issues highlighted in the detailed report as wells as the impact of adoption of Ind-AS should not be ignored while making a decision for investing in the IPO of the company.

IndiaMART InterMESH Limited (IndiaMart) India's largest online B2B marketplace with approximately 60% market share of the online B2B classifieds space in India has come up with IPO.Company has come up with IPO to provide a partial exit to some of its existing stakeholders; the size of IPO is of 4,887,862 equity shares of INR 10 each via book building route. It has fixed a price band of INR 970 – INR 973 and making IPO size of INR 4,741.20 MN to INR 4,755.90 MN based on lower and upper price bands.There are few issues highlighted in the detailed report as wells as the impact of adoption of Ind-AS should not be ignored while making a decision for investing in the IPO of the company.

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<a href="https://www.smartkarma.com/entities/27733" target="_blank" data-smartkarma-citation="entities:27733:1">IndiaMART (IMT IN)</a> plans to raise around US$100m in its IPO. The company runs a B2B marketplace for products and services in India and has been going strong for over 18 years. It counts the likes of Intel Capital amongst its investors and has around 60% market share in its category.
The company has been reporting great growth on the buyers front and appears to be well ahead of its competitors in the B2B classified space. However, some of its supplier acquisition tactics appear aggressive and its ratio of paying suppliers to total listed suppliers has been declining. To add to that, the actual number of paying suppliers seems to be declining as well and churn appears to be high.

IndiaMART (IMT IN) plans to raise around US$100m in its IPO. The company runs a B2B marketplace for products and services in India and has been going strong for over 18 years. It counts the likes of Intel Capital amongst its investors and has around 60% market share in its category.
The company has been reporting great growth on the buyers front and appears to be well ahead of its competitors in the B2B classified space. However, some of its supplier acquisition tactics appear aggressive and its ratio of paying suppliers to total listed suppliers has been declining. To add to that, the actual number of paying suppliers seems to be declining as well and churn appears to be high.

IndiaMART Pre-IPO - Getting and Retaining Subscribers Seems to Be Difficult

India

IndiaMart InterMesh Limited operates as an e-commerce company. The Company offers air coolers, tower fans, washing machines, mixer grinders, barcode printers, steel pipes, tubes, water tanks, roofing supplies, mobile phones, computers, automobile parts, and machine tools. IndiaMart Intermesh markets its products in India

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IndiaMart (INMART IN)

IndiaMart: IPO for Online Market

IndiaMART InterMESH Limited (IndiaMart) India's largest online B2B marketplace with approximately 60% market share of the online B2B classifieds...

Nitin Mangal

IndiaMART Pre-IPO - Getting and Retaining Subscribers Seems to Be Difficult

IndiaMART (IMT IN) plans to raise around US$100m in its IPO. The company runs a B2B marketplace for products and services in India and has been...

Sumeet Singh

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