The shares of this multinational fintech company jumped 3.2 percent after the company announced the acquisition of Rediff.com worth Rs 25 crore.
With a market capitalization of Rs 8,791.13 crore, the shares of Infibeam Avenues (NS:IFIB) Ltd were trading at Rs 31.84 per share, decreasing around 1.42 percent compared to the previous closing price of Rs 32.30 apiece.
Is Infibeam Avenues a buy or sell? What is its Fair Value? What are the company's health parameters? What are the positive and negative factors driving the company -- ProTips? Know all the answers on the company's overview page here.
Reason for rise:-
According to the company filing, Infibeam Avenues Ltd has entered into a definitive agreement for a 54 percent stake in Rediff.com India for cash consideration not exceeding Rs 25 crore, to be completed in 90 days.
Moreover, Rediff.com is a branded player in the Indian internet space with significant monthly unique visitors. The Platform attracts approx. 38 million monthly visitors and ranks amongst the top 1,000 highest-traffic sites globally.
The company also announced its financial performance Ltd’s revenue increased by 1.4 percent from Rs 742 Crore in Q1FY24 to Rs 753 Crore in Q1FY25. During the same period, net profit increased by 180 percent from Rs 25 crore to Rs 70 crore.
Remarkable return:-
Infibeam Avenues shares have delivered returns of 42.86% in this year and a multi-bagger return of 118.41% in a year. As a result, a one-year-old shareholder investment of Rs 1 lakh in the firm is now worth Rs 2.18 lakh.
Recent developments & client base:-
The company is building a self-sufficient AI ecosystem, leveraging the Gujarat Government’s IT/ITeS Policy 2022-27, aiming to lead in AI-based fraud detection and prevention, driving growth in the tech sector.
The company has a marquee customer base across sectors which include Indigo, Vistara, Taj, Oberoi, ITC, MakeMyTrip, Yatra, HUL, Bisleri, Jio, Airtel (NS:BRTI), Myntra, Firstcry, Podar education, and others.
Company Snapshot:-
Infibeam Avenues Limited provides digital payment solutions and corporate software platforms for businesses and governments across industries. CCAvenue offers digital payment systems, whereas BuildaBazaar provides business software solutions.
Written by:- Abhishek Singh
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