InfoBeans Technologies Ltd Company Summary

InfoBeans Technologies Ltd Summary

InfoBeans Technologies Limited was incorporated in Madhya Pradesh, as InfoBeans Software Solutions Private Limited, vide Certificate of Incorporation dated March 18, 2011. Subsequently, the name of the Company was changed from InfoBeans Software Solutions Private Limited to InfoBeans Systems India Private Limited, dated December 7, 2012. Once Again, the name was changed from InfoBeans Systems India Private Limited to InfoBeans Technologies Private Limited, dated March 3, 2015. Later, the Company converted into Public Limited Company, pursuant to which the name of the Company was changed to InfoBeans Technologies Limited, and fresh Certificate of Incorporation dated March 3, 2015, was issued by Registrar of Companies to the Company.InfoBeans System Indias, software development business was transferred to Company in 2012, pursuant to the Scheme of Demerger approved by Honble High Court in Madhya Pradesh, dated September 26, 2012, with Demerged undertaking vested with company with effect from April 1, 2011. Subsequently, the name of the company was changed from InfoBeans Software Solutions Private Limited to InfoBeans Systems India Private Limited. The companies Share Entitlement ratio is of 12 equity shares in resulting company of Rs.10/- and each for every 25 equity shares of Rs.10/- held by members of demerged company. In Post Demerger, the company has created capital reserves of Rs.614.79 Lakhs in its books. The Company is engaged in software development services, real estate business and also specializing in business application development for web and mobile, and also operates at Capability Maturity Model Integration (CMMI) level 3. The CompanyS services are broadly categorized as storage and virtualization, Media and Publishing and e-commerce.In India, the company also operates out of 2 facilities in Indore and Pune employing more than 600 people across locations. The company has established local presence in the North America market by way of 100% subsidiary, which has 2 offices located in California and Georgia, USA. Now the company is service partner for implementing their software.In April, 2017, the Company came up with a Public Issue of 63,42,000 Equity Shares by raising capital through equity aggregating Rs 36.79 Crore. The Company acquired Philosophie Group, Inc. in 2019. On 28th October, 2021, the Company acquired Eternus Solutions Pvt Ltd, a platinum consulting partner of Salesforce in an all cash deal. The Step Down Subsidiary, Philosophie Inc got merged into InfoBeans INC by way of acquiring 100% equity in Eternus Solutions Pvt Ltd in 2021-22.