IndiaMART InterMESH Limited (NSEI:INDIAMART) announces a share repurchase program. Under the program, the company will repurchase up to 160,000 shares, representing 0.52% for INR 1,000 million. The maximum price paid by the shareholders would not exceed INR 6,250 per share.

The purpose of the offer is to return surplus funds to the shareholders, to improve return on equity thereby leading to long term increase in shareholder's value and to provide an option to the shareholders to either participate in the buyback and get cash in lieu of their shares or not participate in the buyback and enjoy an increase in their percentage shareholding post the buyback, without additional investment. The offer will be funded from company's current balance of cash and cash equivalents, investments and/or internal accruals of the company. The company has fixed May 11, 2022, as the record date.

As at April 22, 2022, the company had 30,774,574 shares in issue.