Infibeam Avenues has received approval from the National Company Law Tribunal (NCLT), Ahmedabad, for demerger of its various entities, including SME e-commerce service and e-commerce business undertaking. Under the 'Composite Scheme of Arrangement', the company had sought to demerge its SME e-commerce as well as the e-commerce marketplace businesses to Suvidhaa, while theme park and event business will be demerged and vested to DRC Systems.
The company will continue to focus on the high growth, highly scalable and profitable fintech business of digital payments and enterprise software platforms.
Infibeam Avenues is engaged in providing online retail services.
