As per sources, after the demerger and listing, Infibeam Avenues Group will continue to hold 5 per cent in Suvidhaa and 25 per cent in DRC Systems. However, majority of stakes in both the entities will be owned by Infibeam’s public shareholders as well as Infibeam Avenues Group.
In 2016, Infibeam came up with its maiden IPO to raise Rs 450 crore, making its India’s first ecommerce entity to get listed. Recently it pivoted its business towards fintech and data storages.
Last year Suvidhaa picked up over 6 per cent stake in NSI Infibeam Global, a wholly-owned subsidiary company of Infibeam Avenues for Rs 25 crore at a valuation of Rs 500 crore.
On Thursday, Infibeam Avenues’s board decided to demerge its SME ecommerce services and move it into Suvidhaa.
With this demerger; Suvidhaa will get automatically direct listing on both the stock exchange – NSE as well as BSE. Each shareholder of Infibeam Avenues will get 197 shares of Suvidhaa’s share for every 1,500 shares of Infibeam.
“This move is to unlock value of each business and with this verticalisation each business would be able to focus on its own growth trajectory” said Vishal Mehta, managing director , Infibeam Avenues. A email said to Suvidhaa remained unanswered.
Infibeam Avenues will focus on fintech, enterprise technology platform and data business, while the demerged Suvidhaa will focus on SME ecommerce services and omnichannel e-market place.
Along with this, Infibeam is also demerging it’s another entity DRC Systems, a customised ERP solution maker. Infibeam will move its theme park & event software business into DRC Systems, which will also get directly listed on both the stock exchanges.
Each shareholder of Infibeam Avenues will get 1shares of DRC Systems share for every 412 shares of Infibeam. In 2017 Infibeam had acquired DRC Systems.
