Info Edge (BOM: 532777) will pick up 49% stake in Etechaces Marketing and Consulting, which runs Policybazaar.com
Info Edge India Ltd, the owners of Naukri.com, will invest Rs 20 crore for a 49% stake in eTechAces Marketing and Consulting Pvt Ltd, an online aggregator of insurance products, the company informed the stock exchange. eTechAces runs policybazaar.com, an online aggregator of life and non-life insurance products. The website essentially collects insurance leads and let the insurance companies compete for it.
In a press note issued from the company, Info Edge, Ambarish Raghuvanshi, CFO and Director, Info Edge (India) ltd. said,