Temasek structured the deal through its subsidiary MacRitchie Investments Pte Ltd, which has invested Rs 134.1 crore for a 49.9 per cent stake in MakeSense Technologies, a unit of InfoEdge. In turn, MakeSense will own 19.65 per cent of PolicyBazaar.
InfoEdge retains 50.1 per cent in MakeSense, InfoEdge director and chief financial officer Chintan Thakkar said in a notification to the Bombay Stock Exchange.
MacRitchie's investment in MakeSense was part of the $ 40 million (Rs 248 crore) PolicyBazaar raised in April but it got FIPB approval only in August. Other investors include PremjiInvest, Tiger Global, Ribbit Capital and Steadview capital.