Nalanda Capital executed a large bulk deal in IndiaMART, a tech-enabled B2B marketplace, at a time when the stock is trading close to its multi-year / historical lows.
**Why this stood out**
Nalanda Capital is known as a long-term, fundamentals-focused investor, not a short-term trader. Their style has typically involved:
* High-conviction bets
* Long holding periods
* Focus on business quality and valuation rather than near-term price action
**Context around IndiaMART**
IndiaMART has been under pressure for some time:
* Growth expectations have moderated
* Platform and tech stocks have seen valuation compression
* Market focus has shifted from long-term optionality to near-term execution
As a result, the stock has corrected meaningfully from its highs and sentiment remains cautious. From the highs of near 5000, the stock is now close to 2100 levels. For those who do not know about Nalanda, it is headed by Pulak Prasad with a stellar contrarion record. If you want to know more about his investment philosophy and his past conviction bets, he has written a high quality book - [https://amzn.to/4qmFiu3](https://amzn.to/4qmFiu3)
His entry into this stock gives one guarantee - a fund with high priority on due diligence and moat feels Indiamart presents a valuation attractive story. This however like in any other case does not guarantee a price appreciation in future. Even big investors get it wrong more than 30% of the time. Dislosure - It is a planned investment by me hence a vested interest.