IndiaMART InterMESH Limited (“Company”) has indirectly through its wholly owned subsidiary, Tradezeal Online Private Limited (“Tradezeal”), has entered into an agreement to invest Rs. 3 Crores by subscribing to 30,000 0.0001% Compulsorily Convertible Debentures in Truckhall Private Limited (“SuperProcure”).
The aggregate shareholding of Tradezeal in SuperProcure currently stands at 25.02% on a fully diluted basis. However, post investment shareholding through the subscription of the said CCDs shall depend on the conversion event of the CCDs.
Truckhall under the name ‘SuperProcure’, offers a SaaS platform that digitizes the entire freight sourcing and dispatch monitoring system of the logistics department of an organization. It allows logistics departments to find the best possible rates through a transparent bidding and auction structure, thus saving costs. The total turnover of SuperProcure for the financial year ended March 31, 2022 was Rs. 4.15 Crores.
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