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Infibeam Avenues Ltd to list its Digital Marketing arm - Odigma Consultancy Solutions Ltd

Posted On : 2023-08-09 13:37:50( TIMEZONE : IST )

Infibeam Avenues Ltd to list its Digital Marketing arm - Odigma Consultancy Solutions Ltd

The Board of Directors of Infibeam Avenues Ltd ("IAL"), at its meeting held today, approved a Composite Scheme of Arrangement amongst IAL, Odigma Consultancy SolutionsLimited ("Odigma"), Infibeam Projects Management Private Ltd and their respective shareholders and creditors in terms of which, IAL will list its digital marketing arm on the Indian stock exchanges upon approval by regulatory authorities.

Odigma was acquired in 2014, and currently, it's one of the fully owned subsidiary of Infibeam Avenues Ltd, catering many clients across India and abroad.

Pursuant to the Scheme, shareholders of IAL will receive 1 Equity Share of Odigma of face value Rs 1/- for 89 fully paid-up equity share of Rs 1/- held in IAL.

Additionally, through the Scheme, Odigma will acquire-

a) .OOO (Dot Triple O) a Top level domain ID or internet root, is currently owned by Infibeam Avenues Ltd, will be now part of Odigma. Infibeam had received a license from the Internet Corporation for Assigned Names and Numbers (ICANN) to own .OOO (pronounced as Dot Triple O) internet root or Top level domain ID in the year 2014.

Odigma is a digital marketing company that facilitates businesses to create and manage their online presence. It offers services such as content creation, web development, social media management, email marketing, search engine optimization, search engine marketing, and online reputation management. Odigma Ltd has offices in Bangalore, Delhi, Mumbai and Ahmedabad. Some of their marquee clients include JBL, Puravankara, Blaupunkt, Shriram Properties, Kurlon and Interglobe Aviation.

Odigma is known in the industry for fostering a vibrant digital marketing culture and ecosystem. "With the advent of the digital economy and the enter business ecosystem turning towards digital play, it's an apt time to create a phenomenal growth story for Odigma in the domestic and international digital marketing space," said Mr Vishal Mehta, Managing Director, Infibeam Avenues Ltd, adding that the listing will enable the business to scale up, enhance its standalone brand identity in the digital marketing industry and run independently to pursue growth opportunity in a more focused manner through organic and inorganic route.

The Indian digital marketing market attained a value of $ 3,931 million in 2022. The market is further assessed to grow at a CAGR of 30% during 2023-2028 to reach a value of $ 19,268 million by 2028. Globally, the digital marketing sector is booming and is expected to touch around $672 billion by 2028.

"The rapidly expanding digital marketing industry is poised for exponential growth in the upcoming years, attributed to the widespread digitalization of economies worldwide. Company aims to achieve heightened flexibility, enabling it to capitalize on diverse market opportunities in India and beyond. Our vision goes far beyond establishing ourselves as the leading digital marketing force in India; we aspire to attain global prominence," stated Mr. Mathew Jose, the Chief Executive Officer of Odigma Consultancy Solutions Ltd.

Odigma, as a fully owned subsidiary under Infibeam Avenues Ltd, had recorded revenue and net profit growth of 13.47% CAGR & 11.43% CAGR in the last two years, post Covid-19. The client list has soared by 100%, going upwards from 45 to 90 clients.

Digital assets -Dot Triple O (.OOO).

This listing will also allow Infibeam Avenues Ltd to club its digital asset -- .OOO (phonetic pronunciation - Dot Triple O), its Top level domain to Odigma Ltd.

Clubbing its top level domain business will provide Odigma with a superior edge over other digital marketing players in the industry. The unavailability of desired name in domain ID with the majority of well-known Domain Extensions has given impetus to high growth opportunities for .OOO (Dot Triple O), being a country-neutral, sector-neutral and industry-neutral sounding domain ID.

"Exponential growth in digitalisation has pushed an enormous number of businesses and enterprises across the world towards building their digital identity and having a domain name as per their choice or requirement is very crucial for establishing a corporate identity in the long run," added Mr. Mathew Jose, the Chief Executive Officer of Odigma Consultancy Solutions Ltd. As per a market report, the global domain name market to reach 557.7 million registrations in 2026 from 379.2 million in 2020, thus growing at a CAGR of 6.7%.

CEO & Management:

Mr Mathew Jose heads Odigma as its CEO and will continue to hold the position post listing. The Board of Directors reposed its faith in Mr Mathew's leadership and expects Odigma to excel under this stewardship.

An engineering graduate and Indian Institute of Management, Bangalore (IIM-B) alumnus, Mr Mathew has over a decade of experience in digital marketing and has worked with India's leading brands in electronics, lifestyle, telecommunication, hospitality, real estate, healthcare, and retail and has consistently been able to deliver the best interests of all stakeholders.

Shares of Infibeam Avenues Limited was last trading in BSE at Rs. 14.90 as compared to the previous close of Rs. 14.51. The total number of shares traded during the day was 3354358 in over 5014 trades.

The stock hit an intraday high of Rs. 15.25 and intraday low of 14.26. The net turnover during the day was Rs. 49544211.00.

Source : Equity Bulls


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