Singapore’s Temasek is set to invest in popular insurance portal Policybazaar by way of acquiring stake indirectly from its existing shareholder,Info Edge .
In a regulatory filing, Info Edge today said it has transferred its entire shareholding to its wholly-owned subsidiary Makesense Technologies for Rs 101.3 crore.
The entire stake transfer, done in two tranches, was completed on October 1.
Through a multi-layered deal, Temasek will initially funnel a little over Rs 31 crore into Policybazaar , or Etechaces Marketing and Consulting Pvt.
Makesense has entered into a pact with MacRitchie Investments Pte, an indirect wholly-owned subsidiary of Temasek.
Pursuant to the agreement, MacRitchie will acquire 49.99 per cent in Makesense for Rs 134.1 crore.