Four firms have acted on IndiaMART InterMESH’s INR151 million (USD1.7 million) acquisition of a 7.96% stake in Mobisy Technologies that operates the Bizom software-as-a-service (SaaS) platform.
Lakshmikumaran & Sridharan represented IndiaMART, 含羞草社区 largest B2B marketplace connecting businesses with suppliers, advising on all aspects of the transaction, including structuring, negotiating and finalising deal documents.
Partner Kunal Arora and associate partner Anupam Misra led the transaction team with the assistance of senior associate Mitushi Garg and associate Jeevesh Jain.
Quillon Partners counselled Mobisy, which operates SaaS retail intelligence platform Bizom for brands and B2B retailers. Bizom helps businesses digitise their sales and distribution processes, offering solutions such as sales force automation, distributor management systems, and retail execution and management.
IndiaMART, an existing investor in Mobisy, has increased its stake as part of a broader transaction, which included J&A Partners and Pavestone Technology Fund acquiring securities from existing investors. J&A and Pavestone also took part in the primary issuance of Mobisy’s securities to those investors. In addition, IndiaMART’s compulsorily convertible debentures have been converted into compulsorily convertible preference shares.
The investment, which aligns with IndiaMART’s venture into the SaaS sector, will see its Mobisy stake increase to 25.08%.
JSA advised Pavestone Technology Fund and J&A Partners, while ALMT Legal counselled SIDBI Venture Capital, an existing investor in Mobisy.
