Indiamart buys 26% stake in Realbooks for Rs 13.75 crore
Real Estate

Indiamart buys 26% stake in Realbooks for Rs 13.75 crore

Indiamart, a business to business (B2B) e-commerce company, announced the purchase of a 26.01% stake in cloud-based account software company Adansa Solutions for Rs 13.75 crore on Monday.

Indiamart's wholly-owned subsidiary Tradezeal Online Private Limited acquired shares in the transaction through a combination of primary and secondary share purchases.

Adansa Solutions, which sells a cloud-based accounting software product for businesses under the brand name Realbooks, had a turnover of Rs 2.6 crore in the fiscal year 2021.

Indiamart is the country's largest online B2B marketplace, bringing buyers and sellers together. With a 60% market share in India's online B2B classified space, the channel focuses on providing a platform to Small and medium-sized enterprises (SMEs), Large Enterprises, and individuals. The mission of the company, which was founded in 1999, is to make doing business easy.

Indiamart Intermesh, a B2B e-commerce company, reported a 12.4% drop in consolidated net profit to Rs 70.2 crore in the December 2021 quarter on Monday.

In the previous fiscal year's corresponding period, the company made a net profit of Rs 80.2 crore.

According to a regulatory filing, revenue increased 8.3% to Rs 188.1 crore in the third quarter of FY22 from Rs 173.6 crore the previous year.

During the third quarter of FY22, Indiamart had 259 million visitors and 23 million unique business inquiries. Supplier storefronts increased by 10% year over year to 7 million, and paying subscription suppliers increased to 1.56 lakh with a net addition of 5,833 subscribers during the quarter.

Image Source

Also read: Bosch bags 26% stake in Autozilla Solutions B2B E-marketplace

Indiamart, a business to business (B2B) e-commerce company, announced the purchase of a 26.01% stake in cloud-based account software company Adansa Solutions for Rs 13.75 crore on Monday. Indiamart's wholly-owned subsidiary Tradezeal Online Private Limited acquired shares in the transaction through a combination of primary and secondary share purchases. Adansa Solutions, which sells a cloud-based accounting software product for businesses under the brand name Realbooks, had a turnover of Rs 2.6 crore in the fiscal year 2021. Indiamart is the country's largest online B2B marketplace, bringing buyers and sellers together. With a 60% market share in India's online B2B classified space, the channel focuses on providing a platform to Small and medium-sized enterprises (SMEs), Large Enterprises, and individuals. The mission of the company, which was founded in 1999, is to make doing business easy. Indiamart Intermesh, a B2B e-commerce company, reported a 12.4% drop in consolidated net profit to Rs 70.2 crore in the December 2021 quarter on Monday. In the previous fiscal year's corresponding period, the company made a net profit of Rs 80.2 crore. According to a regulatory filing, revenue increased 8.3% to Rs 188.1 crore in the third quarter of FY22 from Rs 173.6 crore the previous year. During the third quarter of FY22, Indiamart had 259 million visitors and 23 million unique business inquiries. Supplier storefronts increased by 10% year over year to 7 million, and paying subscription suppliers increased to 1.56 lakh with a net addition of 5,833 subscribers during the quarter. Image Source Also read: Bosch bags 26% stake in Autozilla Solutions B2B E-marketplace

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?