Indiamart to buy 26% in IMPL for ₹104 cr

B2B e-commerce Indiamart Intermesh will acquire 26 per cent stake in industrial e-commerce firm IB Monotaro Pvt Ltd (IMPL) for ₹104.2 crore, the company said in a regulatory filing. Pursuant to this transaction, Japan-based Monotaro will hold a 51.6 per cent stake in IB Monotaro while Emtex Engineering, representing the promoter group and early investors, will hold a 22.4 per cent stake in the company.

IB Monotaro under its brand name 'Industry Buying' is engaged in the e-commerce business for industrial and business supplies in India. Indiamart expects to close the transaction within 30 days.