Bonus Shares & Dividend: Multibagger company sets sights on Rs 3 crore investment in game-changing agreement!

Bonus Shares & Dividend: Multibagger company sets sights on Rs 3 crore investment in game-changing agreement!

Kiran Shroff
/ Categories: Trending, Mindshare

The shares have a PE of 67.96x, a ROE of 20 per cent and a ROCE of 23 per cent.

IndiaMart InterMesh has indirectly through its wholly owned subsidiary, Tradezeal Online Private Limited (hereinafter referred as “Tradezeal”), entered into an agreement to invest Rs 3 crore by subscribing to 30,000 or 0.0001 per cent compulsorily convertible debentures in Truckhall Private Limited. This investment shall be in line with the Company’s long-term objective of offering various software as a service (SAAS) based solutions for businesses.  

On Friday, shares of IndiaMart InterMesh zoomed 0.57 per cent to an intraday high of Rs 6,020 from its previous closing of Rs 5,986.35.   

Additionally, the company announced a bonus in the ratio 1:1 and a final dividend of Rs 20 per share. The record date for dividend has been set by the company as May 11, 2023 and the record date for the bonus issue of shares has been fixed as June 21, 2023.  

 

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IndiaMart InterMesh, the first and largest B2B digital marketplace in the country, today stands out as a game-changer in the B2B landscape.   

In Q4FY23, the net revenue rose by 33 per cent to Rs 269 crore and recorded a net profit of Rs 56 crore compared to Q4FY22. In FY23, the revenue rose by 31 per cent and recorded a net profit of Rs 284 crore compared to FY22.  

The shares have a PE of 67.96x, a ROE of 20 per cent and a ROCE of 23 per cent. The stock is up by 6 per cent in just 5 days, up by 37 per cent year to date and gave multibagger returns of over 155 per cent in 3 years.   

Investors should keep an eye on this Mid-Cap stock.   

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