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Indiamart to buy 26% in B2B e-commerce portal IMPL for Rs.104-Cr

BSE Release  

Noida-based, publicly listed B2B e-commerce Indiamart Intermesh will acquire a 26% stake in New Delhi-based industrial e-commerce firm IB Monotaro Pvt Ltd (IMPL) for INR 104.2 crore. IB Monotaro, under its brand name 'Industry Buying', is engaged in the e-commerce business for industrial and business supplies in India. Post deal, Japan-based Monotaro will hold a 51.6% stake in IB Monotaro while Emtex Engineering, representing the promoter group and early investors, will hold a 22.4% stake. For FY21, IMPL's turnover was INR 7.2 crores