There was a celebratory atmosphere at the Hyatt in Noida last Saturday. Drinks flowed and a cake was cut, but the highlight of the night was a speech from the man of the moment—Dinesh Agarwal, CEO of business-to-business (B2B) e-commerce firm IndiaMART. The 50-year-old Agarwal had, after all, just led IndiaMART InterMESH Ltd, which operates IndiaMART.com, to the brink of a successful initial public offering (IPO). The offering raised about Rs 475 crore ($69.3 million) and was subscribed over 36 times in the past week, landing IndiaMART a valuation of Rs 3,748.06 crore ($547.1 million).
Business of B2B
IndiaMART’s IPO success: New day or false dawn?
23-year-old B2B e-commerce behemoth IndiaMART has had a great day at the bourses. Celebrations, though, could be premature as the battle ahead is a tough one
IndiaMART, the country's largest B2B e-commerce firm, has gone public
IndiaMART has intentions to compete with Chinese juggernaut Alibaba, which has B2B operations in India
With funding in the B2B sector rising, IndiaMART could have a battle on its hands
IndiaMART has retained its dominant position while following a subscription model. Will it have to pivot?