Held on 7 May 2018
The board of Infibeam Incorporation at its meeting held on 7th May 2018, has considered and approved the acquisition of entire share capital of Unicommerce eSolutions Private Limited ("Dnicommerce") from its existing Shareholders i.e. Jasper Infotech Private Limited ("Snapdeal") ("Sellers" and the "Proposed Transaction") for a consideration other than cash for an aggregate consideration not exceeding Rs.120.00 Crores. Consequent to acquisition of the entire share capital, Unicommerce eSolutions Private Limited will become the wholly owned subsidiary of Infibeam Incorporation Limited.In connection with the above, Preferential Issue of Optionally Convertible Debenture(s) ("OCD"),either redeemable or convertible into equivalent number of Equity Shares of Rs. 1/- each for an aggregate consideration not exceeding Rs. 120.00 Crores.
Change in the name of the Company from "Infibeam Incorporation Limited" to "Infibeam Avenues Limited" or such other similar name upon approval of the Ministry of Corporate Affairs and subject to approval of Members of the Company, Stock Exchanges, and other appropriate authorities, institutions or bodies as may be required.
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