From Idea to IPO: How Growth Needs to Evolve at Every Stage

Entrepreneur India
December 7, 2019
Here’s a gripping account by Dinesh Agarwal, Founder and CEO, IndiaMART, of how digitalization has changed MSMEs and how much more still needs to be done to adopt the technology.

My journey began back in my graduation days in the late 80s when working in the US was seen as the ultimate success for an Indian techie. After working for CMC and C-Dot, I joined HCL technologies and moved to the US in 1992. However, the day India announced the launch of the Internet on August 15, 1995, I decided to quit my job with HCL Technologies and move back home to build something of my own.”
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Inc42 UpNext: How Looking Inward Changed Everything For IndiaMART

November 19, 2019
To celebrate India’s rising startups, Inc42 is profiling a new soonicorn every Friday in the Inc42 UpNext: Unicorns Of Tomorrow series. For the next few months, we will be speaking to founders and cofounders at these potential unicorns and shining light on their journeys and growth stories. We begin the series with a look at B2B marketplace, IndiaMART.

At the time of the 9/11 terror attacks in the US, IndiaMART, one of India’s first B2B marketplaces, served as a gateway for global customers to buy Indian products. The uncertainty which ripped through international markets posts the terror attack saw IndiaMART’s business slump by more than half.”
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IndiaMART planning new initiatives to combat slowdown in demand

Hindu Business Line
September 30, 2019
B2B e-commerce portal IndiaMART is eyeing a 20-25 per cent growth in turnover this fiscal.

The company, which listed on NSE and BSE in July, is looking to beat the slowdown blues through new additions that include financing options, payment/credit facilitation for buyers and introduction of more brands (including international ones).

According to Dinesh Agarwal, CEO and Founder, IndiaMART InterMESH Ltd continues to be a pre-eminent B2B online marketplace with a deep reach in rural India as well as Tier-III and -IV towns. Moreover, it has set a benchmark for pricing of B2B offerings.
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Online Marketplace Warrior Strikes It Rich

Business World
September 23, 2019
Sound fundamentals like high profitability and scale saw online marketplace IndiaMART emerge a winner in the IPO sweepstakes.

A Twitter user recently wrote about a rumour doing the rounds that “a cow-dung-plated car could be used as a nuclear bunker”. He got an instant reply — “Such a product is already available on IndiaMART!

IndiaMART Founder Dinesh Agarwal likes to quote this Twitter exchange to emphasise the place this online marketplace occupies in India’s consciousness.
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‘Dot-com bust was the best thing that happened to us’

The Times of India
July 22, 2019
Shares of IndiaMART, an online business-to-business marketplace, surged nearly 40% on its BSE debut on July 4. For the firm’s co-founder and CEO, Dinesh Agarwal, 50, the momentous event arrived after a wait of 23 years.

Agarwal, who started the firm in 1996, spoke to TOI about the ups and downs he experienced over the years. From borrowing money from a friend so he could register the the domain name in the US to facing business disruptions after 9/11, Agarwal’s journey is a rare startup story that survived the internet boom and bust.
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Indiamart founder CEO Dinesh Agarwal celebrating a 25% jump in value at listing says Indian e-commerce is a ‘winner takes all’ market

Business Insider
July 4, 2019
When IndiaMart opened its doors for an Initial Public Offering, the founder Dinesh Agarwal was apprehensive – after all, it was the first IPO after the elections with the Narendra Modi government coming back to power – and that too a tech IPO!But in two days, investors subscribed for 36 times the. But in two days, investors subscribed for 36 times the total number of shares on offer. Today, the stock has listed 25% over its issue price.

IndiaMART InterMESH which is the parent company for – one of the country’s biggest online marketplaces for businesses – is one of the country’s oldest e-commerce ventures that started in 1999.
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The making of IndiaMart from Rs 40,000 to Rs 474 crore IPO

June 29, 2019
In this exclusive, in-depth story read how Dinesh Agarwal, Founder & CEO of IndiaMart InterMesh, founded this B2B ecommerce company in the early days of the internet era, how he scaled his business, and what the IPO means for him personally.

There’s a right time and a right place for everything. And for B2B ecommerce marketplace IndiaMart InterMesh, ‘apna time’ has come.
The 23-year-old company that was set up at the height of the dot com boom and went on to survive the bust, launched its Initial Public Offer (IPO) on June 24, 2019, with a price band of Rs 970-973 to raise over Rs 474 crore. The company has offered 48,87,862 equity shares in the issue, which closes on June 26.
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IndiaMART IPO subscribed over 36 times on final day of bidding

The Times Of India
June 27, 2019
New Delhi, Jun 26: The initial public offering of IndiaMART InterMESH, an online marketplace for business products and services, was subscribed 36.16 times on the final day of bidding, Wednesday.

The Rs 475-crore IPO received bids for 9,73,85,775 shares against the total issue size of 26,92,824 shares, according to the NSE data till 1900 hours.
The qualified institutional buyers’ book was subscribed close to 30.83 times, non-institutional investors 62.12 times and retail individual investors 13.37 times, according to merchant banking sources.
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IPO will help take brand to the next level: IndiaMart founder Dinesh Agarwal

June 25, 2019
In an interaction with Moneycontrol, Dinesh Agarwal, founder and chief executive officer of the company, spoke about the reasons behind launching an IPO in such a volatile market and the expansion plans of the company.

IndiaMart InterMesh, the first mainboard IPO (initial public offering) in last two months, opened for subscription on June 24 with a price band of Rs 970-973 per share.
In an interaction with Moneycontrol, Dinesh Agarwal, founder and chief executive officer of the company, spoke about the reasons behind launching an IPO in such a volatile market and the expansion plans of the company.
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IndiaMart IPO opens, to raise over Rs 474 crore

Times Now
June 25, 2019
IndiaMart promoters Dinesh Chandra Agarwal have offered 8,52,453 equity shares and Brijesh Kumar Agrawal 5,77,656 equity shares. Put together an aggregate of 1,37,000 equity shares for sale.

New Delhi: B2B e-commerce firm IndiaMart Monday launched its initial public offer (IPO) with a price band of Rs 970-973 to raise over Rs 474 crore. The company has offered 48,87,862 equity shares in the issue, which will close on June 26.
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IndiaMART’s IPO to Open on June 24, Company Offers Shares at Rs 970-973 Each

June 25, 2019
IndiaMART InterMESH is India’s largest online B2B marketplace for business products and services with approximately 60% market share of the online B2B classifieds space in India in fiscal 2017.

IndiaMart InterMESH Ltd, the operator of, said on Wednesday that the company’s initial public offering (IPO) will be open for subscription from 24 June to 26 June. The company will offer a total of 4.88 million shares of face value of Rs 10 each at a price of Rs 970-973 apiece, according to a report in Livemint.
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From social media sites, fintech companies to start-ups, the industry leaders react on mandate 2019

ET Brand Equity
May 24, 2019
As counting of votes enter the last lap emotions are running high with expectations and anticipation, here’s what the bigwigs of the various industries have to say

With elections results out and NDA all set to take the office with a thumping majority, the emotions of the country are all over the place.

As counting of votes enter the last lap emotions are running high with expectations and anticipation, here’s what the bigwigs of the various industries have to say.
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Biggest Entrepreneurship Conclave in Delhi/NCR was High on Josh!!!

May 21, 2019
Headstart Network Foundation is one of India’s oldest and largest startup ecosystem development organizations. Established in 2007, they have been chasing the vision ‘changing the world with entrepreneurship’ ever since.

A not-for-profit organization, almost entirely volunteer-driven, they have helped numerous startups showcase their offerings and get feedback on their products, facilitated tens of thousands of connections to potential co-founders, customers, vendors, mentors, investors, and employees. They are all in it for the love of building and sustaining communities. Headstart volunteers are a passionate bunch – entrepreneurs, aspiring entrepreneurs and entrepreneurship enthusiasts, with a fervent desire and commitment to being change agents.
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Multi-fold increase in investments in B2B startups

The Asian Age,
May 8, 2019
The Netapp-Zinnov report also found that the newer B2B startups are mostly centered around Bengaluru, Mumbai and Delhi-NCR.

Chennai: After B2C startups, the B2B space is seeing heightened activity. Increased availability of funds has helped the emergence of several new B2B startups, the number of which has grown four times in the past four years. The investments in the space also have shot up multi-fold.
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Brands of India Awards 2019, panel discussion: ‘Brand-building is the result of perseverance’

Feb 28, 2019
IndiaMart’s Dinesh Agarwal, Avon Moldplast’s Sushil Kumar Aggarwal, and Urja Packaging’s Sushant Gaur speak on building a brand in India at the first YourStory Brands of India Awards, 2019.

Building a brand involves art, science, and more importantly, working smart, said IndiaMart Founder and CEO Dinesh Agarwal.

He was speaking at a panel discussion at YourStory’s first Brands of India Awards, 2019. The first edition of the awards, in association with the Ministry of Micro, Small, and Medium Enterprises, was held in New Delhi on February 27.
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एक कंप्यूटर और 40,000 रुपए से बना डाला दिल्ली का ऑनलाइन सदर बाजार, अब है 430 करोड़ का कारोबार

Money Bhaskar,
Jan 21, 2019
दिल्ली का सदर बाजार। उत्तर भारत का सबसे मशहूर थोक बाजार। जहां सुई से लेकर इलेक्ट्रॉनिक्स सामान तक थोक दाम पर मिलते हैं। जहां सैकड़ों नहीं, हजारों कारोबारी रोजाना व्यापार करने आते हैं। इस प्रकार के दूसरे बाजार की परिकल्पना मुश्किल ही नहीं नामुमकिन है। लेकिन एक बीटेक ग्रेजुएट ने मात्र एक कंप्यूटर और 40,000 रुपए की पूंजी से ऑनलाइन सदर बाजार बना डाला। यहां 5 करोड़ से अधिक प्रोडक्ट का कारोबार होता है।

6 करोड़ खरीदार तो 47 लाख विक्रेता रजिस्टर्ड है इस ऑनलाइन थोक बाजार में। इनमें से 10 लाख से अधिकत तो मैन्यूफैक्चरर्स हैं। इस बी2बी (बिजनेस टू बिजनेस) ऑनलाइन बाजार का नाम है इंडिया मार्ट। जहां वित्त वर्ष 2017-18 में 430 करोड़ रुपए का कारोबार किया गया। हम बात कर रहे हैं इसके संस्थापक एवं सीईओ दिनेश अग्रवाल की। जल्द ही वह अपनी कंपनी को स्टॉक मार्केट में लिस्ट कराने जा रहे हैं।
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Global Super Angels Forum makes fresh investments in 5 startups

Economic Times
February 27, 2017
Gurgaon-based startup accelerator Global Super Angels Forum (GSF) has made fresh investments in five startups which constitute its fifth batch for its accelerator programme.

The five startups are, bot-assistant player YellowAnt, artificial intelligence (AI)-driven chatbot solution HeyMojo, deep-learning tech startup Silversparrow, appbased health program Breathe Well-being, and tech-enabled investment platform Oro Wealth:
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List of top, most active 30 angel investors in Delhi-NCR

The Indian Wire
November 22, 2018
Angel investors are at the centre of the booming startups in India. They have been instrumental in helping the startups to take those initial steps in their journey. With the majority of the angel investors coming from an entrepreneur background, they understand the difficulties and hurdles faced by a budding entrepreneur.

Here is a comprehensive list of top 30 angel investors based in Delhi-NCR, helping the entrepreneurs in achieving their goals:
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Powerhouse Ventures leads Series A round in fin-tech startup OroWealth

VC Circle
December 7, 2018
Here’s a gripping account by Dinesh Agarwal, Founder and CEO, IndiaMART, of how digitalization has changed MSMEs and how much more still needs to be done to adopt the technology.

Mumbai-based wealth management startup OroWealth has raised $1.6 million (Rs 11 crore) in a Series A funding round led by US-based venture capital firm Powerhouse Ventures, a company statement said.

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Global Super Angels Forum to invest $1 mn in five startups

VC Circle
November 21, 2017
Startup accelerator-cum-early-stage fund Global Super Angels Forum (GSF) will invest $1 million (Rs 6.5 crore) in five startups as part of the sixth edition of its incubation programme.

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Dinesh Agarwal Came, Saw, Conquered, And Paved The Way For Millions

Be Bold People,
Mar 22, 2017
Prior to founding the well acclaimed website, IndiaMART; one of India’s first web based marketplace for businesses, Dinesh Agarwal was working with HCL Technologies in the US. The concept of the internet had made a huge impression on him while he was still in HCL, and after the government announced the launch of the internet to the public in 1995, he realized the potential it had and immediately flew back to India. Energized to rekindle his entrepreneurial instincts, Dinesh wasted no time in using the internet to bring small and medium sized enterprises (SMEs) together by creating IndiaMART.
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IndiaMART led by Dinesh Agarwal – real pioneer of B2B in India

Mar 6, 2017
Though many people consider B2B business model a new trend which has emerged only in the past few years, very few know that IndiaMart had captured the segment long before it caught the attention of the 20s entrepreneurs of today. We caught up with the founder and CEO of the company, Dinesh Agarwal to know more about his company and its future plans.
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Colors Fireside Interview with Dinesh Agarwal

Feb 7, 2017
It was a different ball game then altogether. Not just in how you did business, but also what the consumer demands were. At best, compared to today, the consumer was happy limited in his needs. Most importantly, the virtual world was still to disrupt our lives as inclusively as it does today. It was still up for aspirations and experiments, far drawn away from the essentials we know now — speed, accuracy and relevance. Search was yet to become an engine of our lives.
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Union Budget 2017: Taking ease of doing business from India to a ‘digitally healthy Bharat’, says Dinesh Agarwal, Founder and CEO,

Financial Express,
Feb 1, 2017
Dinesh Agarwal, Founder and CEO of praised the union Budget 2017 by saying that it has laid the foundation of an enterprise and business pro India which according to him are the important factors to boost GDP. “The budget 2017 has laid a foundation of an enterprise and business pro India. Important factors to boost GDP are thought of the Union Budget 2017, he said.”
“Most important elements such as young demographic dividend, skill development, women employability, digital education, transport have been well accounted for. Also, it is reflected that the burden of taxation is more evenly split with all demographies of the society,” he added.
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Dotcom daddies

The Financial Express
Dec 4, 2016
DINESH Agarwal founded IndiaMART as the country’s “first online B2B directory” in 1996. Within a year, it had registered 100 clients on its platform. Today, the number stands at more than 26 lakh suppliers. “Things have changed dramatically for us in the past two decades,” says Agarwal, who started out as a trader in fertilisers before jumping onto the website business in 1996.

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I was always inspired by technology: Dinesh Agarwal

Impact Magazine
Dec, 2016
I have always been inspired by technology. During my days in the US, I was motivated by innovations such as the World Wide Web. I remember the first time I saw a colleague searching something online and I was wonder-struck by the possibility of having such vast information at just a click. It was like a Eureka moment for me and changed the course of my life.

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IndiaMART, AKTU sign MoU to boost skill development

Business Standard,
August 27, 2016
India’s largest online marketplace IndiaMART and A P J Abdul Kalam Technical University (AKTU) has announced signing of a Memorandum of Understanding (MoU) to promote skill development and equal employment opportunities to the affiliated colleges of the University.
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How Dinesh Agarwal built the Alibaba of India

July 19, 2016
It was in 1996 that Dinesh Agarwal started to write the names and addresses of small businesses from his apartment in East Delhi. His wife and parents would help in the stamping and sealing of the thousands of envelopes.
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ऑनलाइन आढ़त का बेताज बादशाह

India Today,
December 16, 2015
अपने सहकर्मियों के बीच डीए के नाम से बुलाए जाते हैं इंडियामार्ट के संस्थापक और सीईओ 46 वर्षीय दिनेश अग्रवाल. नोएडा एक्सप्रेस वे पर नोएडा के सेक्टर 142 में एडवेंट-नेविस नाम की बहुमंजिला इमारत में तीन मंजिलों पर करीब एक लाख वर्ग फुट में फैला है कंपनी का मुख्यालय. इस इमारत में मौजूद 1,200 कर्मचारियों में से कोई भी अपने इस सरल-सहज बॉस से खौफ नहीं खाता. वजह भी तो जानिएः आज तक उन्होंने किसी को निकाला नहीं है. मुश्किल समय में भर्तियां बंद कर दीं, तनख्वाह थोड़ी देर से दे दी लेकिन छंटनी नहीं की…
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Exclusive: The ‘been there, done that’ Man – Dinesh Agarwal

Business Insider,
December 4, 2015
He was in there much before e-commerce was the talk of the town and cash flowed like the Ganges. While they talk of profit in years, he talks in months. While they never saw much of a dotcom burst, his saw several, and survived ’em all. He talks mostly in crores and rupees, not billions and dollars, but welcomes both…
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Lakshya Par Ho Har Waqt Nazar

Dainik Jagran,
October 14, 2015
In an exclusive interview with Dainik Jagran, CEO and Founder, Dinesh Agarwal walks us through his life story and the various challenges he faced in all these years. He further talks about his vision to create the IndiaMART enterprise and how it survived the dot com bust in 2000 and went on to become the country’s largest online marketplace…
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the Market Maker – How Dinesh Agarwal created the world’s second-largest B2B marketplace Indiamart

The Economic Times,
April 27, 2012
The commercial marketplace of Madhu Vihar isn’t exactly a typical location for the headquarters of a successful e-commerce venture. And when you meet 31-year-old Dinesh Agarwal, he turns out to be the exact antithesis of the swish e-entrepreneur you’d expect him to be.
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Netsense survey of dotcom profitability In the middle of the dotcom carnage, Indiamart’s Dinesh Agarwal actually made profits!

Business World,
May 14, 2001
Dotcom Survivors
The past nine months have seen hundreds of high profiled dotcoms across the world bite the dust. But in the midst of carnage, some start-ups have managed to survive- and even flourish. So, which are the dotcoms that actually did things right while their peers were busy burning cash? The first BW-Netsense survey throws up 21 survivors who were marching ahead even as the dotcom carnage was taking its toll of their peers. How we identified these dotcoms- and the lessons one can learn from them…
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