Indiamart Intermesh hits new high on fundraising plan, zooms 54% in a month

Shares of Indiamart Intermesh hit a new high of Rs 8,239, up 3 per cent on the BSE on Tuesday after the company announced fund raising plans.

The board of directors of the Company is scheduled to meet on Monday, January 18, 2021, to consider raising of funds through issuance of equity shares through qualified institutional placements (QIPs) or through any other permissible mode, subject to applicable laws and necessary shareholder/ regulatory approvals, as applicable, Indiamart Intermesh said in exchange filing.

The company further said the board will also consider and approve the audited standalone and consolidated financial results of the company for the quarter ended December 31, 2020 (Q3FY21).