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INFO EDGE’ S SUBSIDIARY MAKE SENSE TECHNOLOGIES LOOKING TO AMALGAMATE WITH POLICY BAZAAR’S PARENT COMPANY

Amalgamation is now in the new talk as Info Edge (India ) has made arrangements to collaborate synergistically with the parent company of Policy bazaar; PB Fintech Limited. Definitely there is a strategy behind it but to know more let’s get inside the article.

 

DETAILS ABOUT PROPOSAL

Makesense Technologies which is a subsidiary of Info Edge is looking on terms to merge with PB fintech Limited. The scheme has gained approvals from the National Company Law Tribunal & necessary shareholders and creditors.

Info Edge clearly stated in its regulatory filing that ”Make sense Technologies Ltd and PB Fintech Pvt Ltd, at their respective board meetings, held on April 15, 2021, have approved the proposed scheme of amalgamation Make sense Technologies Ltd (transferor company) and PB Fintech Pvt Ltd (transferee company) and their respective shareholders,”

The arrangements are made in such a manner that the PB Fintech will allot its shares on a proportionate basis to the Info Edge subsidiary. The expected range is disclosed below:

 

Number of shares Face value
59750 (fully paid up) Rs. 2
60030 ( convertible preference shares) Rs. 20

 

Once this move gets finalized; corporate structure will be streamlined. It will eventually lead to pool of resources by two companies and cutting down of costs and administrative responsibilities.

 

MORE ABOUT INFO EDGE (INDIA)

The company is a leading internet company incepted way back in 1995. It was founded by Sanjeev Bikhchandani. The company holds Naukri.com, Jeevansathi.com ,99 acres.com and shiksha.com in its functional domain. It also has a major stake in Zomato & Policy Bazaar.

There has a huge increase in its profit in the year 2021 which stands close to 107%. The amount has also doubled in terms of both revenue and profit.

 

INSIGHTS INTO MAKE SENSE TECHNOLOGIES

Info Edge acquired Make Sense in the year 2013 for an amount of Rs. 8 crore. The company is functional in the area of recruitment using prominent & advanced search technologies like natural language processing & AI. The major reason to do so was to use this technology for their own portal Naukri.com in order to establish more efficient mechanism in the recruiting business.

 

Amalgamation is generally done to take the benefits of synergies in the market. But the reason behind it can be the increasing level of losses associated with the company. Info Edge lately is experiencing losses and therefore this step can be the most effective way to tackle those. Policy Bazaar on the other hand is looking forward towards IPO making it easy to dissolve another company into it.

 

 

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