Indiamart Intermesh to Invest Rs 65 Crore in Fleet Technologies to Boost SaaS Portfolio

BY ADMIN • FILED 27 Jul 2026, 6:41 PM

IndiaMART InterMESH Limited has agreed to acquire additional Compulsorily Convertible Preference Shares (CCPS) in its associate company, Fleet Technologies Private Limited, reinforcing its commitment to expanding its Software-as-a-Service (SaaS) portfolio for enterprise logistics and fleet management.

According to a regulatory filing submitted under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company will invest up to ₹64.99 crore through a cash consideration. The transaction is expected to be completed within 30 days.

Transaction Highlights

Target Company: Fleet Technologies Private Limited
Investment Amount: Up to ₹64.99 crore
Mode of Payment: Cash consideration
Securities Acquired: 4,630 Compulsorily Convertible Preference Shares (CCPS)
Issue Price: Face value of ₹10 per share with a premium of ₹1,40,352 per share
Post-Transaction Shareholding: 25.80% of Fleet Technologies on a fully converted and diluted basis
Expected Completion: Within 30 days

Strengthening IndiaMART’s SaaS Ecosystem

Founded in July 2017, Fleet Technologies Private Limited is an AI-powered fleet and logistics management platform that combines artificial intelligence, IoT, and data analytics to help enterprises digitize fleet operations, improve vehicle safety, optimize route planning, and reduce operating costs.

The additional investment aligns with IndiaMART InterMESH’s long-term strategy of building a comprehensive portfolio of cloud-based SaaS solutions that enhance operational efficiency for businesses across multiple industries.

Fleet Technologies Maintains Strong Growth Momentum

Fleet Technologies has delivered consistent revenue growth over the past three financial years, reflecting increasing adoption of its digital fleet management solutions.

FY2024-25 Revenue: ₹77.80 crore
FY2023-24 Revenue: ₹60.14 crore
FY2022-23 Revenue: ₹46.15 crore

The steady increase in revenue underscores the company’s expanding presence in the enterprise logistics technology market.

Related-Party Transaction at Arm’s Length

As Fleet Technologies is already an associate of IndiaMART InterMESH, the investment qualifies as a related-party transaction. The company clarified that the transaction is being executed on an arm’s length basis and does not require any regulatory or government approvals.

The proposed investment further strengthens IndiaMART InterMESH’s strategic focus on high-growth SaaS businesses and reflects its continued efforts to expand its presence in the rapidly evolving enterprise technology and digital logistics ecosystem.