Indiamart Intermesh Subscribes to CCPS of Fleetx Technologies in Up to Rs 6.49 Crores
Indiamart Intermesh Limited has committed to an investment in Fleetx Technologies Private Limited, subscribing to 4,630 Compulsory Convertible Preference Shares (CCPS) of the AI-powered logistics firm. The acquisition is set to bring Indiamart Intermesh into the Software as a Service Solution space.The company intends to invest up to Rs 64,98,76,060 for the subscription. This investment concerns the purchase of 4,630 CCPS with a face value of Rs 10/- per CCPS and a premium of Rs 1,40,352/- per CCPS.
Upon completion of the transaction, Indiamart Intermesh Limited is expected to hold 25.80% of Fleetx’s share capital on a fully converted and diluted basis. The nature of consideration for this acquisition has been stated as cash.
Profile of Fleetx Technologies
Fleetx Technologies Private Limited is an AI-powered platform focused on fleet and logistics optimization. The company revolutionizes physical operations for businesses by unifying data, IoT, and artificial intelligence into a single platform. This enables organizations to digitize their logistics, enhance efficiency, improve safety, and reduce operational costs.The company operates within the Software as a Service Solution industry. Fleetx is registered in Gurugram, Haryana, and its website is https://www.fleetx.io/.
Financial performance data for Fleetx over the past three years is detailed below:
| Financial Year | Turnover (Crores) |
|---|---|
| FY 2025 | 77.80 |
| FY 2024 | 60.14 |
| FY 2023 | 46.15 |
The acquisition aligns with Indiamart Intermesh’s long-term objective of offering various Software as a Service (SAAS) based solutions to businesses. The indicative time period for the completion of this investment is 30 days.
INDIAMART Stock Price Movement
Shares of Indiamart Intermesh Limited closed today after edging higher to settle at ₹1759.70, showing a 0.25% gain. The stock traded amid significant volume of 119,934 shares, successfully holding above the day's low of ₹1755.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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