Docprime Technologies acquires 98.4 per cent stake in Visit Internet Services

K.R. Srivats | Updated on: Jan 15, 2022
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Plans to make Visit Internet a wholly owned subsidiary in February

Docprime Technologies, a wholly owned subsidiary of PB Fintech, has acquired 98.4 per cent stake in Visit Internet Services Pvt Ltd (VIS) a consideration of ₹ 22.05 crore. 

It also plans to acquire the remaining shareholding in VIS in February so as to make it wholly owned subsidiary. The entire cost of acquisition of the two phase transaction is pegged at ₹ 22.41 crore, PB Fintech said in a filing with the stock exchanges. Docprime is making this investment to acquire 100 per cent shareholding in VISPL as part of its strategic investments, the filing added.

It maybe recalled that PB Fintech, which got listed in bourses on November 15 last year, is parent company of online insurance and credit comparison platforms policybazaar and Paisabazaar respectively.

VIS is engaged in the software and tech services industry and is in the business of providing integrated internet based healthcare, medical and other related services in India as well as abroad. It provides internet based technologies infrastructure to doctors and other healthcare providers. VIS is into developing and providing on-demand tele- healthcare services through web and mobile applications, by connecting healthcare providers and help seekers through the use of technology. For the fiscal year 2020-21, VIS recorded a turnover of ₹ 76.48 lakh, up from ₹ 1.8 lakh in the previous year.

In December 2021, PB Fintech announced the acquisition of a majority stake in Gurugram-based loan marketplace MyLoanCare for ₹ 40.41 crore.

Published on January 15, 2022

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