Infibeam Avenues rises 10% as NCLT approve demerger proposal

NEW DELHI: Shares of Infibeam Avenues climbed 10 per cent in Tuesday’s trade after the company received approval from the National Company Law Tribunal for demerger of its various entities, including SME e-commerce service and e-commerce business undertaking.

Under the composite scheme of arrangement, Infibeam 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.

Following the development, the stock 9.77 per cent hit a high of Rs 87.

In a filing to BSE, the company said that the composite scheme of arrangement will assist Infibeam Avenues to unlock value for its shareholders.