Digidrive Distributors Ltd

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About Digidrive Distributors Ltd

Digidrive Distributors Limited was incorporated on 15 March 2022. As a part of the RP-Sanjiv Goenka Group, the Company operates across digital marketplace distribution, e-commerce enablement and media publishing. The Company is engaged in the distribution of consumer electronic products, including the Saregama Carvaan range comprising Carvaan, Mini Carvaan, Carvaan Musicbar and Carvaan Phone, while also supporting digital commerce infrastructure and independent media publishing through its subsidiaries and platforms. The Company's marketplace provides customizable online storefront solutions on a scalable platform, including mobile applications, digital product catalogue, content management, promotions handling, access to payment gateways as well as fulfilment services. The marketplace enables merchants to access customers across multiple sales channels and provides cost-effective marketing and distribution solutions. Further, through the subsidiary Open Media Network Private Limited, the Company published the own weekly current affairs and feature magazine 'OPEN'. Further, the Company is part of the RP-Sanjiv Goenka Group. The RP-Sanjiv Goenka Group is a large conglomerate having interests in, amongst others, power and natural resources, carbon black, retail and FMCG, media and entertainment, infrastructure, information technology, education and sports. The RP-Sanjiv Goenka Group includes entities such as CESC Limited, Phillips Carbon Black Limited, Saregama India ... Limited, Firstsoursce Solutions Limited, Spencers Retail Limited, RPSG Ventures Limited, Harrisons Malayalam Limited and Woodlands Multispeciality Hospital Limited, amongst others. The Company in 2017, launched, the Carvaan, a portable digital music player with in-built stereo speakers that comes in different product variants consisting 250 to 5000 evergreen preloaded songs across languages and genres, allowing customers to listen to music anytime without any advertising breaks. Having built the required expertise and skillset, the Company planned to offer its sales and marketing services to other market participants. In 2023-24, the Scheme of Arrangement between Saregama India Limited (SIL) and the Company was implemented in 2022, where the entire E-Commerce Distribution Business of Saregama India Limited got demerged into the Company. In terms of the said Demerger, the Company received equity shares in the ratio of 1 fully paid-up equity shares of Rs 10 each of the Company for every 5 equity shares of Re 1 each held in Saregama India Limited. i.e. 1:5.

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