Infibeam Avenues: ₹700 Crore Rights Issue Oversubscribed 1.4 Times 2 days ago
Infibeam Avenues Limited successfully concluded its rights issue, raising ₹700 crore with 1.4 times oversubscription. The company allotted 69,99,85,723 partly paid-up equity shares. Funds will be used for investments in Phronetic.AI, expansion of RediffPay, development of RediffOne, strategic acquisitions, and establishment of a distributed network of data centers for edge computing across India.
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More news about Infibeam Avenues
06May 25
Infibeam Avenues to Discuss Fund Raising in Upcoming Board Meeting
Infibeam Avenues Ltd has announced a board meeting on May 9, 2023, to consider fund-raising options. The meeting will also address the approval of audited financial results for Q4 and FY 2022-23, and potential dividend recommendations. The fund-raising initiative, if approved, may involve issuing equity shares or convertible securities, subject to regulatory and shareholder approvals. This move suggests the company may be planning for expansion, technology investments, or strengthening its financial position.
06Mar 25
Infibeam Avenues to Divest 49% Stake in Pirimid Technologies, Appoints New Independent Director
Infibeam Avenues Limited is divesting its 49% stake in Pirimid Technologies to subsidiary Rediff.com India for up to 27 crore rupees. The transaction will be completed within 60 days. Additionally, Ms. Girija Krishan Varma has been appointed as an Additional Woman Director (Non-Executive and Independent) for a 5-year term, effective March 6, 2025, subject to shareholder approval. Ms. Varma brings extensive legal experience from roles at Microsoft India, Standard Chartered Bank, and HCL-Hewlett Packard Limited.