IndiaMART board approves share buyback of Rs 500 crore

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26 Aug, 2025 12:21

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The board of online business-to-business marketplace IndiaMART approved a share buyback for an aggregate amount not exceeding Rs 500 crore at Rs 4,000 apiece, the e-commerce company said in a stock exchange filing on July 20.

The buyback comes at a time when the Noida-based company saw its net profit jump 77 percent to Rs 83 crore in Q1FY24 from Rs 47 crore in Q1FY23, as inflation pangs softened considerably during each month of the quarter.

Other income at Rs 57 crore during the period also provided a boost in the quarter; it was at Rs 1 crore in the same quarter last year. During the same period, IndiaMART's revenue rose 25 percent to Rs 282 crore in the three months to June, from Rs 225 crore in Q1FY23.

The announcement was in line with the e-commerce company's communication earlier to shareholders.

The date for the buyback, record date, timelines and other details will be communicated over time.

The equity shares proposed to be bought back at the buyback offer price are 12,50,000 equity shares, representing 2.04 percent of the total number of equity shares in the total existing paid-up equity capital of the company as on June 30, 2023.

“We are confident about the continued growth and will continue to invest in technology and people to strengthen our value proposition further to accelerate digital adoption amongst businesses," Dinesh Agarwal, Chief Executive Officer, said while releasing the company's results.

IndiaMART said it registered a traffic of 254 million users and 22 million unique business enquiries in Q1 FY24. At the same time, supplier storefronts grew to 7.6 million, which was an increase of 6 percent YoY.

Shares of IndiaMart rose 0.94 percent during the day to close at Rs 2,900.50 apiece on July 20, on the NSE.