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WestBridge Capital Divestment Boosts IndiaMART Market Position

22 June, 20242 min read

Recently WestBridge Capital divestment about INR 380 Cr in the shares of IndiaMart which improve its position in the market.

This significant transaction was executed through three separate bulk deals, each playing a crucial role in the overall divestment strategy.


Details of the Bulk Deals

Prices of these shares are about 2,601 per share. This pricing represents a slight discount of 1.8% compared to the stock’s last close on Friday.

The careful pricing indicates a well-thought-out approach by WestBridge Capital to ensure the successful execution of the deal while maintaining market stability.

SBI Mutual Fund's Acquisition

One of the prominent buyers in this transaction was SBI Mutual Fund, which acquired 10.8 lakh shares for a substantial sum of INR 280.9 crore.

This acquisition highlights SBI Mutual Fund's confidence in IndiaMART's future growth and its strategic investment approach.

Morgan Stanley Asia's Involvement

Morgan Stanley Asia PTE also buy about 1.9 lakh shares around 50 Ce. by participating in this deal.

This acquisition further underscores the attractiveness of IndiaMART's stock among institutional investors and reflects Morgan Stanley Asia's strategic investment decisions.

Reappointment of Dinesh Agarwal

On the same day as these bulk deals, IndiaMART received shareholder approval for the reappointment of Dinesh Agarwal as the Managing Director and CEO of the company till January 2030.


This reappointment is a testament to Agarwal's effective leadership and the trust placed in him by the shareholders.

His continued leadership is expected to drive IndiaMART's growth and strategic direction in the coming years.

Impact on IndiaMART's Market Position

These significant transactions and the reappointment of Dinesh Agarwal are likely to have a profound impact on IndiaMART's market position.

The involvement investors like SBI Mutual Fund and Morgan Stanley Asia reflects strong market confidence in IndiaMART.

Additionally, the leadership continuity provided by Agarwal's reappointment is expected to ensure stability and strategic growth for the company.

Key Takeaways

In conclusion, WestBridge Capital divestment boosts IndiaMART in the market.

The acquisition by SBI Mutual Fund and Morgan Stanley Asia highlights the attractiveness of IndiaMART's stock among institutional investors.

Furthermore, the reappointment of Dinesh Agarwal as the MD and CEO until January 2030 underscores the company's stable leadership.

These developments collectively reinforce IndiaMART's strong market position and its potential for continued growth and success.

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