Infibeam Avenues Ltd. (INFIBEAM) has announced the demerger of its digital marketing arm, Odigma Consultancy Solutions Limited into a separate entity. Shareholders of Infibeam Avenues will get one share of Odigma Consultancy Solutions for every 89 shares held in Infibeam Avenues.
The company has fixed September 11, 2024, as the record date to determine the eligible shareholders. You can check the announcement here.
You will be eligible for the scheme of demerger if you have bought the shares of INFIBEAM on or before September 10, 2024.
When will I receive shares of Odigma Consultancy Solutions?
The credit of shares can take between 30 - 45 days from the record date. You’ll receive an email from CDSL once the shares are credited to the demat account. The shares of Odigma Consultancy Solutions will start trading on the exchanges once the shares are credited and the company gets the necessary approvals from the exchanges.
What will be the average price of Infibeam shares I hold and the shares I receive of Odigma Consultancy Solutions?
The average price is updated according to the Cost of Acquisition released by the company. This is usually released after the record date. We’ll update the post once we have an update on this.
What if I hold less than 89 shares?
In case you hold less than 89 shares of Infibeam Avenues, this will result in fractional entitlement and the amount equivalent to your fractional entitlement will be credited to your primary bank account after the shares of Odigma Consultancy Solutions are listed on the exchanges.