Infibeam Avenues to list digital marketing arm

Infibeam Avenues’ board on Tuesday approved the listing of the company’s digital arm Odigma Consultancy Solutions, according to an exchange filing.

Shareholders of Infibeam Avenues Limited (IAL) will receive one equity share of Odigma of face value Re 1 for 89 fully paid-up equity shares of Re 1 held in IAL. IAL acquired Odigma in 2014, and its digital asset (domain ID) Dot Triple O (.OOO) will now be part of Odigma. Chief Executive Officer of Odigma Consultancy Solutions Mathew Jose will continue to hold his position post-listing.

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Infibeam Avenues reported a 13 per cent jump in its consolidated profit after tax to Rs 25 crore for the first quarter ended June 30 in a filing. IAL had posted a profit after tax (PAT) of Rs 22 crore in the same period a year ago, the company said. The revenue from operations of the company grew 77 per cent to Rs 742 crore during the reported quarter, from Rs 418 crore in the June 2022 quarter.