May 22, 2018 2:41 AM ET

Internet Software and Services

Company Overview of Accelyst Solutions Pvt. Ltd.

Company Overview

Accelyst Solutions Pvt. Ltd. owns and operates a Website that provides online recharge and bill payment services. The company offers online recharge for prepaid mobile, data cards, and DTH connections; and postpaid mobile bill payment services. It provides rewards by way of discount coupons from various brands in food, lifestyle, eCommerce, travel, and other sectors for every transaction made through the Website. The company was incorporated in 2008 and is based in Mumbai, India. As per transaction announced July 27, 2018, Accelyst Solutions Pvt. Ltd. operate as subsidiary of Axis Bank Limited (BSE:532215).

Vaibhav Chambers

Unit No. 2A

2nd floor

Bandra Kurla Complex, Bandra East

Mumbai,  400 051

India

Founded in 2008

Phone:

91 22 4036 3031

Fax:

91 22 2829 0313

Key Executives for Accelyst Solutions Pvt. Ltd.

Chief Executive Officer
Co-Founder and Chairman
Chief Business Officer
Chief Financial Officer
Chief Operating Officer
Compensation as of Fiscal Year 2017.

Accelyst Solutions Pvt. Ltd. Key Developments

Axis Bank Is Close To Buy Freecharge From Snapdeal

Axis Bank Limited (BSE:532215) is nearing a deal to buy Accelyst Solutions Pvt. Ltd. from Jasper Infotech Private Limited for INR 3.5 billion to 4 billion in cash, giving much-needed breathing space to Freecharge's parent company Snapdeal, which is separately in talks to sell itself to larger rival Flipkart India Private Limited. By buying Freecharge, Axis Bank will get a popular digital payments brand as well as access to high-quality technology that traditional companies typically struggle to build compared with internet start-up. Axis Bank and Snapdeal (Jasper Infotech Pvt Ltd) didn't immediately respond to emails seeking comment. Axis Bank and Freecharge are likely to announce the deal this week, two people familiar with the matter said, on condition of anonymity.

Snapdeal Reportedly Is In Discussions To Sell Its Payments Unit

Amazon has made a late bid for Accelyst Solutions Pvt. Ltd. owned by Jasper Infotech Private Limited, a development that comes at a time when the Gurgaon-based company is also in discussions to sell its payments unit to Axis Bank Limited (BSE:532215) and Airtel Payments Bank Ltd., reports Economic Times.

Flipkart Reportedly Makes A Revised $850 Million Bid For Snapdeal

Flipkart Private Ltd (‘Flipkart’) has made a second bid for Jasper Infotech Private Limited (‘Snapdeal‘) estimated at about $850 million two weeks after its initial offer was rejected. The revised bid, which is believed to have been cleared by Flipkart’s board during the weekend, was formally communicated to Snapdeal board late on July 17, 2017, according to two sources briefed on the matter. The bid of $850 million is believed to be for online marketplace Snapdeal, logistics business Vulcan Express Private Limited and online order management business Unicommerce eSolutions. It, however, does not include Accelyst Solutions Pvt. Ltd. However, a third source said that Flipkart’s latest offer ranges between $900 million and $950 million, but does not include Vulcan Express. Additionally, as per the terms and conditions of the revised bid, Flipkart is expected to set aside about $150 million of the $850 million as indemnity, sources told Economic Times (‘ET’). Emails sent to Snapdeal and Flipkart spokespersons did not elicit any response at the time of going to press. Goldman Sachs has been acting as the financial advisor to Flipkart for this transaction, while Credit Suisse and JSA Law are the financial and legal advisors, respectively, to Snapdeal. According to the sources that ET spoke to, Snapdeal board will be discussing Flipkart offer and is expected to arrive at a decision over the next 24 to 48 hours.

Recent Private Companies Transactions

Type
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No transactions available in the past 12 months.
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