Infibeam Avenues up in green

Infibeam Avenues is up in the green since morning; from its closing of Rs.39.95 yesterday, it opened at Rs.40.65, rising to an intraday high at Rs.42.30. Its UC is at 20% and today it stands at Rs.47.90.

The company announced yesterday after market hours that as part of its restructuring plan, it is looking at demerging subsidiaries Suvidhaa Infoserve and DRC Systems. These are also expected to generate value and the idea is to get them listed eventually.

The company plans to spin-off its SME e-commerce services unit to Suvidha Infoserve wherein the swap ratio will be 1500 shares of Suvidha Infoserve for every 197 shares of Infibeam held.

Infibeam’s theme park and event software business will come under DRC Systems wherein for every 412 shares held of Infibeam, the shareholder will get one share of DRC.