IndiaMART

IndiaMART InterMESH Ltd is an

Indian e-commerce company
headquartered in Noida. It provides
B2B and customer to customer sales
services via its web portal.[3] The
company began in 1996 when Dinesh
Agarwal and Brijesh Agrawal
founded the website
IndiaMART.com,[4] a business-to-
business portal to connect Indian
manufacturers with buyers.[5][6]

History
IndiaMART was launched in 1996 as a
directory of the websites for
customers in the Delhi-NCR region by
two cousins Dinesh Agarwal and
Brijesh Agrawal.[7][8][9] At that time
India had only 15,000 internet
users.[10] By 1999, the directory had
more than 1,000 listings.[11]

After overcoming the dot-com bust, in

2008–09 when the recession hit the US,
the company decided to pivot the focus
from export
IndiaMART
oriented business
to India-focused
B2B market and Type Public
raised $10 million Traded BSE: 54272
in Series A round as s://www.bs
com/stock-s
funding from
rice/x/y/5
Intel Capital, a 6/)
part of which was NSE: INDIA
(https://ww
invested in ndia.com/g
IndiaMART, es/equity?s
=INDIAMA
One97
Communications ISIN INE933S010

and Global Talent Industry Internet

marketing
Track.[12][13][14]
B2B
marketpla
In November 2014, Founded 1996
IndiaMART Founders Dinesh
started Agarwal
Brijesh
promotional
Agrawal
campaigns
Headquarters Noid
featuring Indian Uttar
film actor Irrfan Prad
India
Khan as its brand
Area India
ambassador.[15] served

Revenue ₹985 cror

In March 2016, it
(US$120 m
raised Series C (FY23)[1]
Funding from Net ₹284 crore
Amadeus Capital income (US$36 mil
(FY23)[1]
Partners and
Quona Capital to
scale up the Number 3049
of
activities of
employees
IndiaMART and
Subsidiaries Tolex
Tolexo.[16] Trade
Intern
In 2016 and 2019, Busy
Infot
IndiaMART
invested in Website indiamart
.com (htt
ProcMart and p://india
Vyapar.[17][18] mart.co
m)
In June 2018,
IndiaMART filled draft papers with
SEBI to raise ₹600 crore through IPO
and list on NSE and BSE.[19] In July 4th
2019, IndiaMART went public[20] via
an IPO of ₹474 crore.[21][22] The issue
was oversubscribed by 36 times by the
end of the final day of the
bidding.[22] IndiaMART became the
first online B2B marketplace to go
public in India, and the first company
to launch its IPO in the second tenure
of Modi government.[23][24]

As of 2019, IndiaMART was the

largest Indian e-commerce platform
for businesses with about 60% market
share, according to KPMG.[24]
Financials
IndiaMart's revenue registered a 29%
CAGR over FY19 to ₹507 crore while it
reported a net profit of ₹20 crore in
FY19, according to a note from Angel
Broking.[25] It has zero debt and
sizeable cash balance. As of 31 March
2019, the company had 8.27 crore
(82.70 million) registered buyers and
had 55.5 lakh (5.55 million) supplier
storefronts in India and expect to
maintain a compounded annual growth
rate (CAGR) of 29 per cent for the
next two years.[26]
It handles 97,000 product categories —
ranging from machine parts, medical
equipment and textile products to
cranes, from thousands of towns and
cities of India.[24] Agfa HealthCare
India, Case New Holland Construction
Equipment (India), Hilti India, JCB
India and Nobel Hygiene are a few big
suppliers on the company's
marketplace.[27]

IndiaMART had an aggregate of 32.5

crore (325.8 million), 55.2 crore
(552.6 million) and 72.3 crore (723.5
million) visits in fiscals 2017, 2018
and 2019, respectively, of which 20.4
crore (204.8 million), 39.6 crore
(396.9 million) and 55 crore (550.3
million) were mobile traffic, which
is 63%, 72% and 76% of total traffic,
respectively.[28] The IndiaMART app
has more than 1 crore (10 million)
downloads with a 4.7 App rating on
Android.[29]

Legal issues
In November 2020, IndiaMART filed
a copyright infringement lawsuit
against Justdial before the Delhi High
Court on allegations of copying
website compilations for the proposed
JD Mart business-to-business
marketplace.[30][31]

In August 2021, IndiaMART suffered

a data breach where 38 million user
records were exposed, including more
than 20 million email addresses,
names, phone numbers and physical
addresses.[32]

IndiaMART has been listed as a

"notorious market" since 2018 by the
USTR for selling counterfeit
products and illegal
pharmaceuticals.[33][34][35][36]
References
1. "IndiaMART net profit flat at Rs 56
crore in Q4; revenue rises 33% to Rs
269 crore - ET Retail" (https://retail.
economictimes.indiatimes.com/news/
e-commerce/e-tailing/indiamart-net-
profit-flat-at-rs-56-crore-in-q4-rev
enue-rises-33-to-rs-269-crore/9985
9135) . ETRetail.com. The Economic
Times. Retrieved 9 July 2023.
2. "B2B marketplace looking to raise
₹600 crore" (https://www.medianama.
com/2018/07/223-lowdown-indiama
rt-ipo/) . Medianama. 5 July 2018.
Retrieved 19 July 2018.
3. Payal Ganguly (29 June 2015).
"IndiaMart ropes in Mudit Khosla to
cater to sourcing needs of large
companies" (http://articles.economict
imes.indiatimes.com/2015-06-29/ne
ws/63937698_1_sme-base-tata-moto
rs-sourcing-requirements) . Times of
India. Retrieved 27 January 2016.
4. Disha Sharma (4 January 2016).
"Indiamart's Agarwal backs office
products portal ProcMart" (https://we
b.archive.org/web/2016102501140
9/http://www.vccircle.com/news/tel
ecom/2016/01/04/exclusive-indiam
arts-agarwal-backs-office-products-
portal-instaproc) . VCCircle.
Archived from the original (http://w
ww.vccircle.com/news/telecom/201
6/01/04/exclusive-indiamarts-agar
wal-backs-office-products-portal-in
staproc) on 25 October 2016.
Retrieved 27 January 2016.
5. Varun Jain (16 September 2015).
"Indiamart eyes Rs 2,000 cr revenue by
2020" (http://retail.economictimes.in
diatimes.com/news/e-commerce/e-tai
ling/indiamart-eyes-rs-2000-cr-reve
nue-by-2020/48986352) .
Indiatimes.com. Retrieved 27 January
2016.
6. Ankita Rai (17 August 2015).
"IndiaMART: Small business means
big business" (http://www.business-st
andard.com/article/management/indi
amart-small-business-means-big-busi
ness-115081600627_1.html) .
Business Standard. Retrieved
27 January 2016.
7. Disha Sharma (4 January 2016).
"Indiamart's Agarwal backs office
products portal ProcMart" (https://we
b.archive.org/web/2016102501140
9/http://www.vccircle.com/news/tel
ecom/2016/01/04/exclusive-indiam
arts-agarwal-backs-office-products-
portal-instaproc) . VCCircle.
Archived from the original (http://w
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6/01/04/exclusive-indiamarts-agar
wal-backs-office-products-portal-in
staproc) on 25 October 2016.
Retrieved 27 January 2016.
8. "B2B ecommerce marketplace
IndiaMart posts profit of Rs 31.4 Cr
in first quarter of FY20" (https://m.
dailyhunt.in/news/bangladesh/englis
h/yourstory-epaper-yourstory/b2b+e
commerce+marketplace+indiamart+po
sts+profit+of+rs+31+4+cr+in+first
+quarter+of+fy20-newsid-1283703
86) . Daily Hunt. 1 August 2019.
Retrieved 9 October 2019.
 9. Soumya Gupta (21 February 2017).
"IndiaMART To Stream 50% of
Revenue from Big Brands by 2020" (ht
tp://bwdisrupt.businessworld.in/arti
cle/IndiaMART-To-Stream-50-of-Re
venue-from-Big-Brands-by-2020-/21
-02-2017-113217/) . Business World.
Retrieved 13 October 2019.
10. Dijbijay Mishra (22 July 2019).
" 'Dot-com bust was the best thing that
happened to us' " (https://timesofindi
a.indiatimes.com/companies/dot-com-
bust-was-the-best-thing-that-happened
-to-us/articleshow/70322708.cms) .
Times Of India. Retrieved 12 October
2019.
11. VCCircle (21 January 2011).
"Indiamart to raise Rs 100cr via PE
route" (https://www.moneycontrol.co
m/news/business/companies/-12602
09.html) . Money Control. Retrieved
10 October 2019.
12. Times News Network (15 January
2009). "IndiaMart.com gets funds
from Intel Capital" (http://timesofin
dia.indiatimes.com/business/india-bu
siness/IndiaMart-com-gets-funds-fr
om-Intel-Capital/articleshow/39798
27.cms) . Times of India.
13. "IndiaMart.com gets funds from Intel
Capital" (http://timesofindia.indiati
mes.com/business/india-business/Ind
iaMart-com-gets-funds-from-Intel-C
apital/articleshow/3979827.cms) .
Times of India. 14 January 2009.
Retrieved 27 January 2016.
14. N Sundaresha Subramanian (16 July
2015). "Rs 1 crore a day is not far
away for PE-backed Indiamart" (htt
p://www.business-standard.com/artic
le/companies/rs-1-crore-a-day-is-not
-far-away-for-pe-backed-indiamart-
115071600014_1.html) . Business
Standard. Retrieved 27 January 2016.
15. Press Trust of India (18 November
2014). "IndiaMART ropes in actor
Irrfan Khan as brand ambassador" (ht
tps://www.business-standard.com/art
icle/pti-stories/indiamart-ropes-in-
actor-irrfan-khan-as-brand-ambassa
dor-114111801135_1.html) . Business
Standard. Retrieved 11 October 2019.
16. "Indiamart raises Series C funding
from Amadeus Capital, WestBridge &
others" (https://web.archive.org/we
b/20160720235036/http://www.vcc
ircle.com/news/technology/2016/0
3/09/indiamart-raises-series-c-inve
stments-amadeus-capital-westbridge-
others) . VCCircle. 9 March 2016.
Archived from the original (http://w
ww.vccircle.com/news/technology/2
016/03/09/indiamart-raises-series-
c-investments-amadeus-capital-westbr
idge-others) on 20 July 2016.
Retrieved 3 June 2016.
17. aparnamishra.06 (21 June 2016).
"IndiaMART Invests In B2B
Marketplace ProcMart" (https://inc4
2.com/flash-feed/indiamart-invests
-in-procmart) . Inc42 Media.
Retrieved 15 July 2020.
18. S.H, Salman (3 September 2019).
"IndiaMART leads Series A
investment in Vyapar" (https://www.l
ivemint.com/companies/news/indiam
art-leads-series-a-investment-in-vyap
ar-1567524201276.html) .
livemint.com. Retrieved 15 July 2020.
19. "IndiaMART Files Draft Papers To
Raise $88.24 Mn" (https://inc42.com/
buzz/indiamart-ready-for-ipo-files-
draft-papers-to-sell-4-28-mn-share
s/) . inc42. 3 July 2018. Retrieved
3 July 2018.
20. ET Markets.com (21 June 2019).
"IndiaMART IPO opens on Monday;
here's what you need to know" (https://
economictimes.indiatimes.com/market
s/ipos/fpos/indiamart-ipo-opens-on
-monday-heres-what-you-need-to-kno
w/articleshow/69889178.cms) .
Economic Times. Retrieved 13 October
2019.
21. RTI (24 June 2019). "IndiaMart IPO
opens, to raise over Rs 474 crore" (http
s://www.timesnownews.com/business
-economy/companies/article/indiama
rt-ipo-opens-to-raise-over-rs-474-cro
re/442282) . Times Now News.
Retrieved 12 October 2019.
22. NDTV Profit Team (26 June 2019).
"IndiaMART InterMESH IPO Fully
Subscribed On Day 2" (https://www.nd
tv.com/business/indiamart-intermesh
-ipo-indiamart-intermesh-stock-price
-indiamart-intermesh-ipo-subscribed-
over-50-o-2058774) . NDTV Profit.
Retrieved 8 October 2019.
23. Swaraj Singh Dhanjal (18 June 2019).
"Indiamart set to become first firm to
test IPO market under Modi 2.0" (http
s://www.livemint.com/market/ipo/i
ndiamart-set-to-become-the-first-com
pany-to-test-ipo-market-after-electio
ns-1560846656689.html) . Live Mint.
Retrieved 10 October 2019.
24. Manish Singh (6 July 2019). "A 23-
year-old B2B company has shown how
keen India is for tech IPOs
IndiaMART is the first business-to-
business e-commerce firm to go public
in India" (https://techcrunch.com/201
9/07/05/indiamart-ipo/) . Tech
Crunch. Retrieved 15 October 2019.
25. PTI (21 April 2019). "IndiaMart
expects 29% CAGR revenue growth in
next 2 years" (https://www.livemint.c
om/companies/news/indiamart-expec
ts-29-cagr-revenue-growth-in-next-2-
years-1555849998689.html) . Live
Mint. Retrieved 12 October 2019.
26. PTI (21 April 2019). "IndiaMart
expects 29 pc CAGR revenue growth in
next 2 yrs" (https://www.deccanchroni
cle.com/business/companies/21041
9/indiamart-expects-29-pc-cagr-reve
nue-growth-in-next-2-yrs.html) .
Deccan Chronicle. Retrieved
11 October 2019.
27. Red Herring Prospectus (17 June
2019). "IndiaMART InterMESH
LIMITED" (https://www.edelweissfi
n.com/documents/30595/0/IndiaMA
RT+InterMESH+LIMITED-RHP.pdf)
(PDF). EdelweissFin.com. Retrieved
13 October 2019.
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(INDIAMART) - COMPANY
HISTORY" (https://www.business-sta
ndard.com/company/indiamart-inter-
68842/information/company-histor
y) . Business Standard India. Business
Standard. Retrieved 3 October 2019.
29. "IndiaMART App Crosses 10 Million
Downloads and is Rated 4.6 Stars by
Users on Google Play Store" (http://w
ww.ptinews.com/pressrelease/34889
_press-subIndiaMART-App-Crosses-1
0-Million-Downloads-and-is-Rated-4-
6-Stars-by-Users-on-Google-Play-Sto
re) . Press Trust Of India. 30 April
2019. Retrieved 3 October 2019.
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November 2020). "Indiamart, JD in
legal war over copyright violations" (h
ttps://www.livemint.com/companies/
news/indiamart-jd-in-legal-war-over
-copyright-violations-116056650338
16.html) . mint. Retrieved 17 December
2020.
31. "Clash of Marts | Lexology" (https://w
ww.lexology.com/library/detail.asp
x?g=db2930ca-a071-41d5-b95d-2d0a
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17 December 2020.
32. Shukla, Sidhartha; Sharma, Disha;
John, Nirmal (23 August 2021). "Data
breach or data scraping? With over 38
million records up for grabs,
IndiaMART has some answering to do"
(https://economictimes.indiatimes.co
m/industry/services/retail/data-bre
ach-or-data-scraping-with-over-38-m
illion-records-up-for-grabs-indiama
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Retrieved 27 June 2023.
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36. "2022 Review of Notorious Markets
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Retrieved 28 March 2023.
External links
Official site (http://www.indiama
rt.com)

Retrieved from
"https://en.wikipedia.org/w/index.php?
title=IndiaMART&oldid=1175627846"

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2023, at 08:31 (UTC). •
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