Temasek, the Singapore government backed investment arm has invested in online insurance aggregator PolicyBazaar, part owned by Naukri owner InfoEdge (India) Ltd.
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.
