Indiamart.com to raise $3-4 m privately

Business World,

Prachi Verma
NEW DELHI, TUESDAY 29 JANUARY

INDIAMART.COM, A Delhi-based portal, which allows Indian exporters and manufacturers to display their products and services, is looking at raising $3 million to $4 million by March-April through private placement.

In order to raise funds, it is in talks with an Indian venture capilalist, an American merchant bank and a Canadian company.

Last fiscal, the company ended up with a furnover of Rs. 1.25 crore and is expecting to clock over Rs. 3 crore this time.

“Most probably it will be a combination of investors who will invest approximately, $3 to 4 milliion. The partnerships with all these companies will not be just restricted to raising funds only. The partnerships will also help us to venture into newer markets and help us with complementary technologies.” Dinesh Agarwal, CEO of Indiamart.com told Business Standard.