M&A

M&A

IndiaMART acquires residual 34% stake in Livekeeping for Rs. 27-Cr

BSE Announcement   Inc42   Livekeeping  

Publicly listed B2B ecommerce company IndiaMART has completed the buyout of fellow Noida-based SaaS startup Livekeeping Technologies through a secondary deal worth INR 26.78 Cr (USD 3.1 Mn). With this, Livekeeping has become a wholly owned subsidiary of IndiaMART.IndiaMART has acquired 5,235 equity shares at INR 51,145 per share from the promoters of Livekeeping Technologies. The deal will enable IndiaMART to offer various SaaS-based solutions for businesses.Founded in 2015, Livekeeping operates as a tally application that enables users to track their financial data at convenience. The app’s features include payment reminders, generate eWay bills, share GST bills and expense tracking, among others.IndiaMART initially acquired a majority 51.09% stake in Livekeeping for INR 45.98 Cr in 2022. Last year, IndiaMART acquired an additional 14.88% stake in the company for INR 13.39 Cr, taking its total shareholding to 65.97%.