Japan’s Mitsubishi UFJ Financial Sells 2% Indirect Stake In IndiaMART

SUMMARY

Mitsubishi UFJ Financial Group (MUFG) said it divested a 2% indirect stake in IndiaMART on account of sale of four of its subsidiaries

MUFG held a 5.13% stake in IndiaMART prior to this sale, which has now reduced to 3.12%

Founded in 1999, IndiaMART is a B2B marketplace connecting buyers and sellers across sectors such as consumer electronics, manufacturing, among others

Japanese lender Mitsubishi UFJ Financial Group (MUFG) has sold 2% of its indirect stake in online B2B marketplace IndiaMART InterMESH.

In a filing with the exchanges today, MUFG said it divested a 2% indirect stake in IndiaMART on account of sale of four of its subsidiaries – First Sentier Investors (Australia) IM, First Sentier Investors Australia (RE), First Sentier Investors (UK) IM and First Sentier Investors International IM.

MUFG held a 5.13% stake in IndiaMART prior to this sale, which has now reduced to 3.12%.

“… MUFG has an aggregated interest in Indiamart Intermesh Ltd of 3.12% ordinary share capital, as on March 17th , 2025, which is the date of sale. This is based upon a total of 1,875,224 shares held and a total of 60,032,148 voting rights on issue,” the filing read.

It is pertinent to note that First Sentier Investors Group was acquired by Mitsubishi UFJ Trust and Banking Corporation, a subsidiary of MUFG, in 2019. It claims to have assets under management worth $140.9 Bn with a presence across Australia, Asia, Europe and North America.

On the other hand, IndiaMART, founded by Dinesh and Brijesh Agrawal in 1999, is one of India’s oldest internet companies. The B2B marketplace connects buyers with sellers across sectors such as consumer electronics, chemicals & dyes, construction and raw materials, clothing and apparel, cosmetics and personal care, pharmaceuticals, automobiles, among others.

Over the past few years, IndiaMART has invested in a number of startups to spruce up revenue and expand its offerings. Its investment portfolio includes Vyapar, Legistify, IDfy, EasyEcom, Zimyo, Fleetx, among others.

In November last year, IndiaMART said it would acquire an additional stake in Mobisy Technologies, which operates SaaS startup Bizom, for INR 14.3 Cr in an all-cash deal.

IndiaMART’s consolidated net profit zoomed 48% to INR 121 Cr in the third quarter of the financial year 2024-25 (Q3 FY25) from INR 81.9 Cr in the year-ago period. Operating revenue rose 16% to INR 354.3 Cr during the quarter from INR 305.3 Cr in Q3 FY24.

Shares of IndiaMART closed 2.52% higher at INR 2,094.95 apiece on the BSE today.