M&A
Fintech co. Infibeam to transfer e-commerce platform to subsidiary Rediff for Rs.800-Cr
Gandhinagar-headquartered listed fintech company Infibeam Avenues Ltd has approved the transfer of its e-commerce platform on a slump sale basis to its digital content subsidiary Rediff.com for a valuation of INR 800.39 crore. Post transaction, Infibeam will increase its stake in Rediff.com from 54.1% to 80%.Infibeam's e-commerce SaaS platform includes Rediffmail (enterprise e-mail), RediffPay (digital payments) and RediffOne (enterprise business suite). Of the INR 800.39 Cr, Infibeam will issue fresh equity shares worth INR 400 Cr and the remaining INR 400 Cr in cash.
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