| IndiaMART | |
| Type: | Public |
| Isin: | INE933S01016 |
| Founders: |
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| Industry: | |
| Revenue: | (FY24) |
| Profit: | (FY24)[1] |
| Location City: | Noida, Uttar Pradesh |
| Location Country: | India |
| Area Served: | India |
| Subsid: |
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| Num Employees: | 5384 |
IndiaMART InterMESH Ltd is Indian's largest B2B online marketplace, connecting buyers and suppliers. It is headquartered in Noida and currently hosts 194 million registered buyers and 7.9 million sellers, listed on its marketplace. It has over 108 million products listed in over 98,000 product categories in across 56 industry groups.[3] [4]
In addition to its headquarters in Noida, the company has branch offices in Ahmedabad, Bengaluru, Chandigarh, Chennai, Coimbatore, Delhi, Faridabad, Gandhinagar, Ghaziabad, Gurugram, Hyderabad, Indore, Jaipur, Jalandhar, Kanpur, Kochi, Kolkata, Lucknow, Ludhiana, Madurai, Meerut, Mumbai, Nagpur, Nashik, Navi Mumbai, Puducherry, Pune, Rajkot, Surat, Tiruppur, Tiruvallur and Vadodara.
The company started its operations in 1996 when Dinesh Agarwal and Brijesh Agrawal founded the website IndiaMART.com,[5] a business-to-business portal to connect Indian manufacturers with buyers.[6] [7]
Founded in 1996 by two cousins Dinesh Agarwal and Brijesh Agrawal, IndiaMART started when international demand for Indian products was on the rise. IndiaMART began by providing free listings to SMEs and offering them paid value-added services for website creation, design and maintenance. At that time India had only 15,000 internet users.[8]
Knowing that computer and internet penetration was low in those days among Indian SMEs, the company printed and faxed the enquiries received from interested buyers to listed SMEs across geographies.
While the mission of company was to ‘make businesses doing easy’, the company business focus evolved over the years. In the early years of inception, the company created value for local SMEs by presenting them to potential overseas buyers through an online business directory. As India experienced increased internet penetration, giving rise to fast-growing domestic ecommerce market, the company shifted to focus on facilitating business among its local clients. IndiaMART grew to become the world’s second largest online B2B marketplace, trailing behind Alibaba.
In order to enable domestic sellers to turn buyers’ enquiries into sales, the company today engages in intensive service innovation and rolled out such leading-edge services as Buy Leads, Buyer Help-desk, enquiries-via SMS and preferred number service.[9]
In November 2014, IndiaMART started promotional campaigns featuring Indian film actor Irrfan Khan as its brand ambassador with the tagline "Kaam Yahin Banta Hai".[10] In March 2016, it raised Series C Funding from Amadeus Capital Partners and Quona Capital to scale up the activities of IndiaMART and Tolexo.[11]
In 2016 and 2019, IndiaMART invested in ProcMart and Vyapar.[12] [13] In June 2018, IndiaMART filled draft papers with SEBI to raise ₹600 crore through IPO and list on NSE and BSE.[14] On July 4, 2019, IndiaMART went public[15] via an IPO of ₹474 crore.[16] [17] The issue was oversubscribed by 36 times by the end of the final day of the bidding.[17] 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.[18]
As of 2019, IndiaMART was the largest Indian B2B marketplace for businesses with about 60% market share, according to KPMG.[19] In January 2022, IndiaMART acquired 100% stake in accounting software solution provider - Busy Infotecch for 500 Crores[20]
As of Q4 FY2024, IndiaMART reported a consolidated revenue from operations of INR 1,197 Crore, with YoY growth of 21%, according to their financial results. As of March 2024, the company has 194 million registered buyers, 7.9 million Indian supplier storefronts and 214K paid suppliers.
It handles 108 million products across 56 industry groups. It hosts 98,000 product categories - ranging from construction and building raw materials, industry plants, machinery and packaging material to electrical equipment, apparel to furniture, housewares, cosmetics and many more. Godrej, Blue star, Tata Motors, Automat, Essae, Hilti, TMTL are some of the biggest suppliers with IndiaMART.[21] [22]
IndiaMART has 93 million unique business enquiries in fiscal 2024. The IndiaMART app has 4.7 App rating on Google Play store.https://investor.indiamart.com/FinancialResultsStatements.aspx
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.[23] [24]