M&A
Payments tech co. Infibeam to acquire 54% stake in Rediff.com for Rs.25-Cr
Press Release BSE Announcement
Ahmedabad-based listed payments tech firm Infibeam Avenues Ltd has acquired a 54% stake in Mumbai-based Rediff.com India Ltd. - one of India’s oldest online content services firms - for INR 25 crore. Rediff, which was earlier listed on Nasdaq, had reported a revenue of INR 36 crore in FY 23-24 (lower than that in the previous two financial years). Ajit Balakrishnan, who had founded Rediff in 1996, will continue to advise the company post deal.
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