The board of Infibeam Avenues approved demerger of E-commerce business of NSI Infinium and its Theme park & Software business into Suvidhaa and DRC Systems respectively, which will be listed at a later date. The demerger has been done by the board as a part of Infibeam’s broader business restructuring plan. These strategies will pave the way for the management of each firm to chalk out growth strategies.

Infibeam Avenues Limited (IAL) is in the business of digital payments, E-commerce services, software business, e-commerce technology platforms and provides a comprehensive suite of web services spanning digital payments solutions, data centre infrastructure, software platforms, etc. The equity shares of the company are listed on BSE and NSE.

Suvidhaa Infoserve Private Limited (SIPL) is a private limited company. However, for the conversion into public company resolution has been passed on August 27, 2019. SIPL engaged in the business of provide facility to make payments for a host of services like utility bill payment, renewal insurance premium collection, telecom, mobile, DTH recharges besides travel ticketing (rail, air and bus}, domestic remittance services, merchant acquiring services etc. The 76.01% of the equity shares of the company are held by. Paresh Rajde (Not related to IAL) & remaining by FII’s and other individual shareholders.

DRC Systems India Private Limited (DRC)is a private limited company however for the conversion into public company resolution has been passed on August 16, 2019. It is engaged in the business to undertake software business, services across e-commerce, content management system, entertainment events management system, payment, processing system, mobile application, learning management system as well as ERP for both front-end user interface as well as back-end. The 51% of the equity shares of DRC are held by IAL & remaining stake is majorly owned by Sutariya Family (Not related to IAL).

NSI Infinium Global Private Limited (NSI) is a private company however for conversion into public limited company, necessary documents filed with ROC. It is engaged in the business of E-commerce. The 6.41% of the equity shares of NSI are held by SIPL & remaining by IAL. All the control of NSI is with SIPL thus making NSI subsidiary of SIPL.

Further the registered office of all the companies are located in the GIFT II Building Gandhinagar, Gujarat.

Proposed Transaction

On September 12, 2019, Board of Directors of the IAL approved the Composite Scheme of Arrangement amongst Infibeam Avenues Limited, SIPL, DRC Systems India Private Limited and NSI Infinium Global Private Limited and their respective shareholders and creditors under Section 230 to 232 read with Section 66 and other applicable provisions of the Companies Act, 2013 and rules made thereunder (‘Scheme’). The Scheme inter-alia provides for:

  • Demerger of “SME E-Commerce Services Undertaking” of IAL and transfer of the same to SIPL.
  • Demerger of “E-Commerce Business Undertaking” of NSI and transfer of the same to SIPL.
  • Demerger of “Theme park & Event Software Undertaking” of IAL and transfer of the same to DRC.

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