IndiaMART invests in Fleetx Technologies; earnings call transcript released

IndiaMART InterMESH (BSE: 542726) has announced a strategic investment in Fleetx Technologies Private Limited, a move aligned with its long-term objective of offering Software as a Service (SAAS) based solutions for businesses. The company will subscribe to 2,921 Compulsory Convertible Preference Shares (CCPS) of Fleetx for approximately INR 41 crore. Post-acquisition, IndiaMART will hold 22.25% of Fleetx's share capital on a fully converted and diluted basis. Fleetx is an AI-powered fleet and logistics optimization platform with a revenue of INR 60.14 Cr for the financial year ended March 31, 2024.