INFIBEAM continues its journey of segregation

Recently, the management of Infibeam Avenues Limited announced internal restructuring which will pave the way for separate listing of its Global Top Level Domain business and will carve out immovable property at Gift City into a separate wholly owned subsidiary.

- 

Infibeam Avenues Limited ("Infibeam" or "Demerged Company" or "Transferor Company") is engaged in business of digital payment, E-Commerce services, comprehensive suite of web services spanning digital payment solution, data centre infrastructure, software platform etc. The equity shares of Infibeam are listed on nationwide bourses.

Odigma Consultancy Solutions Limited ("ODIGMA" or "Resulting Company") is a wholly owned subsidiary of Infibeam engaged in activities relating to e-commerce.

Infibeam Projects Management Private Limited ("IPMPL" or "Transferee Company") is a wholly owned subsidiary of Infibeam.

The Proposed Transaction:

Board of Directors of Infibeam Avenues Limited ("Infibeam" or "Demerged Company" or "Transferor Company"), at its meeting has considered and approved a Composite Scheme of Arrangement between the Company, Odigma Consultancy Solutions Limited ("ODIGMA" or "Resulting Company") and Infibeam Projects Management Private Limited ("IPMPL" or "Transferee Company") and their respective shareholders and creditors ("Scheme") under Sections 230 to 232 read with Section 66 of the Companies Act, 2013 ("Act") and other applicable laws including the rules and regulations which inter-alia provides for

i. The demerger, transfer and vesting of Global Top-Level Domain ("GTLD") Undertaking from the Company to the Resulting Company on a going concern basis;

ii. transfer and vesting of the Project Management Undertaking of the Company, as a going concern on Slump Sale basis, to the Transferee Company;

The Appointed date for the transaction is 1st April 2023.

Demerger