IndiaMart To Invest Rs 65 Crore In AI Logistics Firm Fleetx For 25.80% Stake
Sagar DSIJ / 27 Jul 2026 / Categories: Mindshare, Trending
IndiaMart InterMESH will subscribe to 4,630 compulsorily convertible preference shares of Fleetx Technologies, an AI-powered fleet and logistics SaaS platform, through cash consideration.
On Monday, Indian equity benchmarks ended higher, with the benchmark Nifty 50 index gaining 0.96 per cent to 23,995.95. Amid the broader market strength, IndiaMart InterMESH Limited traded at Rs 1,759.70, down 0.01 per cent from the previous close, as the company disclosed an investment in Fleetx Technologies Private Limited, an AI-powered fleet and Logistics optimisation platform.
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Download Service BrochureIndiaMart To Acquire 25.80 Per Cent Stake In Fleetx Technologies
IndiaMart InterMESH Limited has announced its intention to invest up to Rs 64,98,76,060, approximately Rs 64.99 crore, in Fleetx Technologies Private Limited by subscribing to 4,630 Compulsorily Convertible Preference Shares, or CCPS, of the target entity. The CCPS carry a face value of Rs 10 per share and are being issued at a premium of Rs 1,40,352 per CCPS. The consideration is entirely in cash. Upon completion of the transaction, IndiaMart's aggregate shareholding in Fleetx on a fully converted and diluted basis will stand at 25.80 per cent. The acquisition is expected to be completed within 30 days and does not require any governmental or regulatory approvals.
About Fleetx Technologies
Fleetx Technologies Private Limited is an AI-powered fleet and logistics optimisation platform that integrates data, Internet of Things, and artificial intelligence into a single platform to enable businesses to digitise their logistics operations, enhance efficiency, improve safety, and reduce operational costs. Fleetx was incorporated on July 24, 2017, in India. The company's revenue has grown steadily over the past three financial years, Rs 46.15 crore in FY23, Rs 60.14 crore in FY24, and Rs 77.80 crore in FY25.
Strategic Rationale
The investment is in line with IndiaMart's long-term objective of offering various Software as a Service-based solutions for businesses. Fleetx's platform aligns with IndiaMart's broader strategy of expanding its SaaS portfolio to serve the business-to-business ecosystem.
About IndiaMart InterMESH
IndiaMart InterMESH Limited operates India's largest online B2B marketplace, connecting buyers and suppliers across a wide range of product categories. The platform serves millions of buyers and suppliers and has steadily expanded its presence in the SaaS segment through investments and acquisitions in enterprise software companies.
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Disclaimer: The article is for informational purposes only and not investment advice.