Infibeam Avenues’ wholly owned subsidiary -- NSI Infinium Global (NSI) has received approval to enter into binding Memorandum of Understanding (MoU) with Suvidhaa Infoserve, one of the leading last mile services provider using technology with access to more than 90,000 retail partners across India. The Board of Directors of the company at its meeting held on December 17, 2018 has approved the same.
As per the MoU, the investment of Rs 25 crore will be made for acquisition of 5% of equity stake with control of NSI by Suvidhaa Infoserve.
Infibeam Avenues is engaged in providing online retail services.
