IndiaMART Shares Soar 8% as Nalanda India Equity Fund Acquires Major Stake

• IndiaMART InterMESH Ltd. shares surged over 8% on Friday, January 16, marking their largest single-day gain since July 2023.
• Nalanda India Equity Fund Ltd. purchased 11 lakh shares of IndiaMART for ₹232 crore at an average price of ₹2,110 per share.
• Smallcap World Fund Inc. was the seller in this block deal, having held a 1.83% stake in IndiaMART at the end of the September quarter.
• Indian Mutual Funds collectively hold an 11.61% stake, with SBI Smallcap Fund and UTI Flexicap Fund each holding 3.57%.
• Promoters own 49.17% of the company, while small retail shareholders collectively hold a 9.7% stake.

Why It Matters: IndiaMART shares jumped significantly after Nalanda India Equity Fund acquired a substantial stake.