Infibeam Avenues Limited (IAL), India’s leading e-commerce and payment solutions provider, has announced that Suvidhaa (“Company”) will invest INR 25 crores to acquire 5% stake in its wholly-owned subsidiary NSI Infinium Global Private Limited and subsequently merge with the Company through Scheme of Amalgamation.
NSI is involved in the busines of online marketplace and retailing of products to enable sale of various products online by merchants. It also operates online marketplace infibeam.com.
Subsequent to merger, all sales channels including Infibeam.com and channel stores enabling retailing of products by NSI will continue to be managed by the merged entity. The technology implementations of webstores for third party retailers will be managed by Infibeam Avenues.
Suvidhaa provides last mile financial services to more than 40 million unique customers through multiple delivery platforms. It has one of the largest network across India with a reach spanning more than 4500 PIN codes with more than 91,000 franchise outlets. Suvidhaa provides services and financial products through its partnerships with over 300 financial institutions and service providers. Suvidhaa processed over Gross Transaction Value worth INR 10,000 crores a year, and offers a range of B2C/G2C services. Suvidhaa will leverage its existing offline capabilities to scale the product business of Infibeam Avenues and focus on niche product verticals with margins. Infibeam will leverage the physical retail location of Suvidhaa to offer last mile logisitcs across the country. Shapoorji Pallonji Mistry is an angle investor and owns minority stake in Suvidhaa.
