IndiaMART InterMESH Limited (NSEI:INDIAMART) agreed to acquire 10% stake in Baldor Technologies Private Limited for INR 896.9 million on May 29, 2024. Baldor Technologies Private Limited reported revenue of INR 1.17 billion for FY 2023. The acquisition is expected to be completed within 30 days.

As of June 28, 2024, IndiaMART InterMESH Limited (NSEI:INDIAMART) has completed the acquisition of 6.4% stake in in Baldor Technologies Private Limited. The remaining 3.4% of the share capital (on fully diluted basis) of Baldor Technologies Private Limited will be completed by July 10, 2024.