IndiaMART InterMESH Limited (INDIAMART) Earnings Call Transcript & Summary

Dear shareholders. I welcome all the members to the extraordinary general meeting of the company. This meeting is being held through VC/OAVM on the platform provided by NSEI in compliance with the circulars issued by MCA, and SEBI in this regard. Before starting the proceedings of the meeting, I would like to inform the members about the modalities for participation are processed to be followed by attending this meeting. The facility of participation in the AGM through VC or OVAM have been made available to the members on first come first serve basis. [Operator Instructions] As this meeting is held through VC/OVAM, the provisions relating to appointment of proxy is not applicable. Requisite arrangements have been made through e-voting services provided by NSDL to enable each member to exercise their right to vote on chairman election and resolution set forth in the AGM notice. Mr. Shreyansh Pratap Jain, Practicing Company Secretary, membership number F8621 and C.P. number 9515 has been appointed as the scrutinizer for the e-voting during the AGM and remote e-voting process. The result of the e-voting on the resolution set forth in the AGM notice, along with the report of the scrutinizer, shall be made available on the website of the company under the Head of Investors Relations and also on the website of NSDL and Stock Exchanges, NSE and PSE. Today, we have with us Mr. Dinesh Chandra Agarwal, Managing Director and CEO; Mr. Brijesh Kumar Agarwal, Whole Time Director; Mr. Vivek Narayan Gour, Independent Director and Chairman of the Audit Committee and Stakeholders Relationship Committee; Ms. Elizabeth Lucy Chapman, Independent Director and Chairperson of the Nomination and Remuneration Committee; Mr. Dhruv Prakash, Non-Executive Director; Mr. Rajesh Sawhney, Independent Director; and Mr. Prateek Chandra, CFO of the company present through video conferencing. Apart from the above, Ms. Kanika Kohli, representative of B S R Company LLP statutory auditors; and Devesh Vashisht, representative of Sanjay Grover & Associates secretarial auditors are also present through video conferencing. As there is no designated Chairman of the Board. The members present are required to elect the Chairman of the AGM from amongst nominated directors through e-voting in compliance with the requirement of the circular issued by MCA. Mr. Vivek Narayan Gour and Mr. Dhruv Prakash are being nominated by the other directors present for being elected as the Chairman of the meeting. The instructions for election of Chairman through e-voting are shared on the screen. Members are requested to follow these instructions and cast their vote. The window for voting on election of Chairman is now open and would be closed at 11:15 a.m. You may now cast your votes for the same. The companies in receipt of 2 corporate representations along with Board resolution authorizing the person's concern to attend and vote at the meeting on behalf of the respective entities representing 48,621 equity shares, constituting 0.17% of beta equity share capital of the company as on the date -- cutoff date, that is February 3, 2021. Now the meeting is adjourned for enabling the members to cast their vote for election of Chairman of this meeting and shall be resumed at 11:20 a.m. [Voting]

I once again extend a warm welcome to all the members of the meeting. As for the poll results, Mr. Vivek Narain Gour has been elected as the Chairman of this meeting. Now I request Chairman to preside over the chair and carry out the proceedings of this meeting.

I have immense pleasure in welcoming you all to the 26th extraordinary general body meeting of the company. The requisite quorum being present, I call this meeting to order. Notice of the AGM has already been circulated to all members through e-mail and the same is now available on the company website. I now take notice of the AGM as read. All members of the company present at the AGM, who were eligible and could not exercise their right to vote during the remote e-voting period can exercise their vote now through the e-voting platform of NSDL by logging on to https://www.evoting.nsdl.com/. The window for e-voting is now open, and the same would close at 11:45 a.m. Members need to follow the instructions mentioned in the notice of the meeting. And in case of any difficulties, you may connect on the helpline numbers which are given therein. The following resolutions are proposed to be passed in this meeting. First, to approve fundraising activities and issuance of securities by the company. Second, approval for increase in authorized share capital and consequent alteration of the Memorandum of Association. Third, approval for reclassification of authorized share capital and consequent alteration to the Memorandum of Association. It is now time to take questions from the members.

The first question which has come up is as follows: What is the purpose of the proposed fundraise? Which are the areas of business the company is targeting for the acquisitions? And the time horizon in which the set amount will be deployed? I will request the Managing Director, Sri Dinesh Agarwal, to answer this question. Dinesh Ji?