{{short description|Indian e-commerce company}} {{Use dmy dates|date=June 2022}} {{Use Indian English|date=June 2022}} {{Infobox company | name = IndiaMART InterMESH Ltd. | logo = IndiaMART logo.svg | logo_size = 250px | founded = {{Start date and age|1996|04|01|df=yes}} | type = Public | traded_as = {{ubl|{{BSE|542726}}|{{NSE|INDIAMART}}}} | ISIN = INE933S01016 | founders = {{plainlist| *Dinesh Agarwal *Brijesh Agrawal}} | industry = {{plainlist| *Internet marketing *B2B marketplace}} | revenue = {{increase}} {{INRconvert|1196|c}} (FY24)<ref name="fy24"/> | profit = {{increase}} {{INRconvert|334|c}} (FY24)<ref name="fy24">{{cite news |title=Q4 results review: IndiaMART InterMESH zooms 10% despite target price cuts as Q4 PAT jumps 79%|url=https://www.livemint.com/market/stock-market-news/q4-results-review-indiamart-intermesh-zooms-10-despite-target-price-cuts-as-q4-pat-jumps-79-11714639780864.html#:~:text=For%20the%20entire%20financial%20year,%E2%82%B9985.4%20crore%20in%20FY23. |access-date=2 May 2024 |work=livemint.com |agency=Mint |language=en}}</ref> | location_city = Noida, Uttar Pradesh | location_country = India | area_served = India | subsid = {{plainlist| *Tolexo *Tradezeal International *Busy Infotech<ref>{{cite news | url=https://corporate.indiamart.com/2022/01/25/indiamart-to-acquire-busy-infotech-for-rs-500-crores/ | title= IndiaMART to acquire Busy Infotech for Rs 500 Crores | publisher= IndiaMART | date= 25 January 2022 | access-date= 25 January 2022}}</ref>}} | num_employees = 5,384 | homepage = {{URL|indiamart.com}} }}
'''IndiaMART InterMESH Ltd''' is an Indian B2B online marketplace company, headquartered in Noida. The company started its operations in 1996 when Dinesh Agarwal and Brijesh Agrawal founded the website IndiaMART.com,<ref name="Disha Sharma">{{cite web | url=http://www.vccircle.com/news/telecom/2016/01/04/exclusive-indiamarts-agarwal-backs-office-products-portal-instaproc | title=Indiamart's Agarwal backs office products portal ProcMart | publisher=VCCircle | date=4 January 2016 | access-date=27 January 2016 | author=Disha Sharma | archive-date=25 October 2016 | archive-url=https://web.archive.org/web/20161025011409/http://www.vccircle.com/news/telecom/2016/01/04/exclusive-indiamarts-agarwal-backs-office-products-portal-instaproc | url-status=dead }}</ref> a business-to-business portal to connect Indian manufacturers with buyers.<ref>{{cite news | url=http://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/indiamart-eyes-rs-2000-cr-revenue-by-2020/48986352 | title=Indiamart eyes Rs 2,000 cr revenue by 2020 | work=Indiatimes.com | date=16 September 2015 | access-date=27 January 2016 | author=Varun Jain}}</ref><ref>{{cite news | url=http://www.business-standard.com/article/management/indiamart-small-business-means-big-business-115081600627_1.html | title=IndiaMART: Small business means big business | work=Business Standard | date=17 August 2015 | access-date=27 January 2016 | author=Ankita Rai}}</ref>
==History== Founded in 1996 by two cousins Dinesh Agarwal and Brijesh Agrawal, IndiaMART began as a B2B directory and website developer for SMEs.<ref>{{cite news | url=http://bwdisrupt.businessworld.in/article/IndiaMART-To-Stream-50-of-Revenue-from-Big-Brands-by-2020-/21-02-2017-113217/| title= IndiaMART To Stream 50% of Revenue from Big Brands by 2020| publisher= Business World| date=21 February 2017 | access-date=13 October 2019| author= Soumya Gupta }}</ref> At that time, India had only 15,000 internet users.<ref>{{cite news | url=https://timesofindia.indiatimes.com/companies/dot-com-bust-was-the-best-thing-that-happened-to-us/articleshow/70322708.cms| title= 'Dot-com bust was the best thing that happened to us'| publisher= Times Of India| date=22 July 2019 | access-date=12 October 2019| author= Dijbijay Mishra}}</ref>
Due to Indian rupee's appreciation between 2005 and 2007 and the impact of the 2008–09 US recession, the company decided to pivot the focus from export-oriented business to India-focused B2B market and raised funding from The Times Group and Intel Capital.<ref>{{cite news | url=http://timesofindia.indiatimes.com/business/india-business/IndiaMart-com-gets-funds-from-Intel-Capital/articleshow/3979827.cms | title=IndiaMart.com gets funds from Intel Capital | newspaper=Times of India | date=14 January 2009 | access-date=27 January 2016}}</ref><ref>{{cite news | url=http://www.business-standard.com/article/companies/rs-1-crore-a-day-is-not-far-away-for-pe-backed-indiamart-115071600014_1.html | title=Rs 1 crore a day is not far away for PE-backed Indiamart | newspaper=Business Standard | date=16 July 2015 | access-date=27 January 2016 | author=N Sundaresha Subramanian}}</ref><ref>{{cite news |last1=Chatterjee |first1=Paramita |last2=Nair |first2=Radhika P. |title=Warburg Pincus in talks with IndiaMart for Rs 150 crore investment |url=https://economictimes.indiatimes.com/warburg-pincus-in-talks-with-indiamart-for-rs-150-crore-investment/articleshow/8183987.cms |access-date=24 November 2024 |work=The Economic Times |date=7 May 2011}}</ref>
In March 2016, it raised Series C funding from Amadeus Capital Partners and Quona Capital to scale up the activities of IndiaMART and Tolexo.<ref>{{cite news | url=http://www.vccircle.com/news/technology/2016/03/09/indiamart-raises-series-c-investments-amadeus-capital-westbridge-others | title=Indiamart raises Series C funding from Amadeus Capital, WestBridge & others | publisher=VCCircle | date=9 March 2016 | access-date=3 June 2016 | archive-date=20 July 2016 | archive-url=https://web.archive.org/web/20160720235036/http://www.vccircle.com/news/technology/2016/03/09/indiamart-raises-series-c-investments-amadeus-capital-westbridge-others | url-status=dead }}</ref> In 2016, IndiaMART invested in ProcMart.<ref>{{Cite web|date=2016-06-21|title=IndiaMART Invests In B2B Marketplace ProcMart|url=https://inc42.com/flash-feed/indiamart-invests-in-procmart|access-date=2020-07-15|website=Inc42 Media|language=en-US}}</ref>
In June 2018, IndiaMART filled draft papers with SEBI to raise ₹600 crore through IPO and list on NSE and BSE.<ref>{{cite news | url=https://inc42.com/buzz/indiamart-ready-for-ipo-files-draft-papers-to-sell-4-28-mn-shares/ | title=IndiaMART Files Draft Papers To Raise $88.24 Mn | publisher=Inc42 | date=3 July 2018 | access-date=3 July 2018}}</ref> In July 2019, IndiaMART went public via an IPO of ₹474 crore.<ref>{{cite news | url=https://economictimes.indiatimes.com/markets/ipos/fpos/indiamart-ipo-opens-on-monday-heres-what-you-need-to-know/articleshow/69889178.cms| title= IndiaMART IPO opens on Monday; here's what you need to know| publisher= Economic Times| date=21 June 2019 | access-date=13 October 2019}}</ref><ref name="NDTV Profit Team">{{cite news | url=https://www.ndtv.com/business/indiamart-intermesh-ipo-indiamart-intermesh-stock-price-indiamart-intermesh-ipo-subscribed-over-50-o-2058774| title= IndiaMART InterMESH IPO Fully Subscribed On Day 2| publisher= NDTV Profit| date=26 June 2019 | access-date=8 October 2019}}</ref> IndiaMART became the first online B2B marketplace to go public in India.<ref name="Manish Singh"/>
As of 2019, IndiaMART was the largest Indian B2B marketplace for businesses with about 60% market share, according to KPMG.<ref name="Manish Singh">{{cite news | url=https://techcrunch.com/2019/07/05/indiamart-ipo/| title= 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| publisher= Tech Crunch| date=6 July 2019 | access-date=15 October 2019| author= Manish Singh}}</ref>
==Subsidiaries==
In January 2022, IndiaMART acquired 100% stake in accounting software company Busy Infotech for {{INR}}500 crore,<ref>{{cite web |title=Indiamart Intermesh to acquire accounting software solutions provider - Busy Infotech |url=https://www.business-standard.com/article/news-cm/indiamart-intermesh-to-acquire-accounting-software-solutions-provider-busy-infotech-122012500535_1.html |website=business-standard.com |publisher=Business Standard |access-date=28 June 2024}}</ref> the acquisition was completed in April 2022, making BUSY a wholly owned subsidiary.<ref>{{cite web | title=Indiamart Intermesh completes acquisition of Busy Infotech | website=India Infoline | date=2022-04-14 | url=https://www.indiainfoline.com/news/companies/indiamart-intermesh-completes-acquisition-of-busy-infotech-2 | access-date=2025-11-03}}</ref> Busy is an Indian accounting software company focused on SMEs, offering comprehensive accounting, inventory management, and Indian indirect-tax compliance solutions, including complete GST functionalities such as e-invoicing and e-way bill generation.
==Investments== In 2019, IndiaMART led the Series A funding round in Vyapar.<ref>{{Cite web|last=S.H|first=Salman|date=2019-09-03|title=IndiaMART leads Series A investment in Vyapar|url=https://www.livemint.com/companies/news/indiamart-leads-series-a-investment-in-vyapar-1567524201276.html|access-date=2020-07-15|website=livemint.com|language=en}}</ref> In 2022, IndiaMART invested an additional ₹61.55 crore in Vyapar as part of its Series B funding.<ref>{{cite web | last=Desk | first=Business Today | title=IndiaMART to invest Rs 61.55 cr in Simply Vyapar Apps | website=Business Today | date=2022-01-25 | url=https://www.businesstoday.in/latest/corporate/story/indiamart-to-invest-rs-6155-cr-in-simply-vyapar-apps-320208-2022-01-25 | access-date=2025-11-03}}</ref>
In 2024, it acquired a 10% stake in IDfy.<ref>{{cite news |title=IndiaMART picks up 10% stake in KYC solutions provider IDfy |url=https://www.thehindubusinessline.com/companies/indiamart-picks-up-10-stake-in-kyc-solutions-provider-idfy/article68232363.ece |access-date=24 November 2024 |work=BusinessLine |date=30 May 2024 |language=en}}</ref>
==Products==
IndiaMART handles 119 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, and cosmetics, among others. Godrej, Blue Star, Tata Motors, Automat, Essae, Hilti, TMTL are some of the biggest suppliers with IndiaMART. It hosts more than 8 million sellers and 211 million buyers on its platform.<ref>{{Cite web |title=Financial Results/Statements |url=https://investor.indiamart.com/FinancialResultsStatements.aspx}}</ref><ref>{{Cite web |date=Jun 13, 2024 |title=Will IndiaMART InterMESH maintain its market leadership? |url=https://tradebrains.in/will-indiamart-intermesh-maintain-its-market-leadership/}}</ref>
== Regulatory and compliance== 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 B2B marketplace.<ref>{{Cite web|first1=Madhurima |last1=Nandy |first2=Tarush |last2=Bhalla |date=2020-11-18|title=Indiamart, JD in legal war over copyright violations|url=https://www.livemint.com/companies/news/indiamart-jd-in-legal-war-over-copyright-violations-11605665033816.html|access-date=2020-12-17|website=mint|language=en}}</ref><ref>{{Cite web|title=Clash of Marts {{!}} Lexology|url=https://www.lexology.com/library/detail.aspx?g=db2930ca-a071-41d5-b95d-2d0a1a2605d8|access-date=2020-12-17|website=www.lexology.com|date = 25 November 2020|language=en}}</ref>
Since 2018, the USTR has listed IndiaMART as a "notorious market" due to reports of counterfeit products and illegal pharmaceuticals being sold on the marketplace.<ref name="nmreport2017">{{cite web |date=January 11, 2018 |title=2017 Out of Cycle Review of Notorious Markets |url=https://ustr.gov/sites/default/files/files/Press/Reports/2017%20Notorious%20Markets%20List%201.11.18.pdf |url-status=live |archive-url=https://web.archive.org/web/20201223192143/https://ustr.gov/sites/default/files/files/Press/Reports/2017%20Notorious%20Markets%20List%201.11.18.pdf |archive-date=December 23, 2020 |access-date=January 10, 2021 |website=Office of the United States Trade Representative}}</ref><ref name="nmreport2022">{{cite web |date=January 31, 2023 |title=2022 Review of Notorious Markets for Counterfeiting and Piracy |url=https://ustr.gov/sites/default/files/2023-01/2022%20Notorious%20Markets%20List%20(final).pdf |url-status=live |archive-url=https://web.archive.org/web/20230202095731/https://ustr.gov/sites/default/files/2023-01/2022%20Notorious%20Markets%20List%20(final).pdf |archive-date=February 2, 2023 |access-date=March 28, 2023 |website=Office of the United States Trade Representative}}</ref>
==References== {{Reflist}}
==External links== *{{Official website|www.indiamart.com}} *{{URL|https://corporate.indiamart.com/|Corporate website}}
Category:Online companies of India Category:Internet properties established in 1996 Category:Indian brands Category:Online marketplaces of India Category:Companies listed on the National Stock Exchange of India Category:Companies listed on the Bombay Stock Exchange Category:Notorious markets