IndiaMART Files IPO Draft; Looking to Raise Rs 500 Crore

Jul. 6, 2018

IndiaMART is an online B2B (business-to-business) marketplace that connects suppliers with buyers, thereby taking various layers of middlemen out of the supply chain. It was founded back in 1996 by former HCL engineer, Dinesh Agarwal, and is headquartered in Noida, UP. The company is believed to employ more than 2,000 employees around the country presently.

In aninterview to Quartz, Dinesh Agarwal clarified that proceeds from the IPO will not be pumped into the business, but will be a way for current investors, including the promoters, to get some liquidity. He, however, did reveal that the company is looking to expand its business to larger companies instead of just focusing on small and medium enterprises, which is what IndiaMART has mostly done until now.

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