Infibeam to raise 2000 Cr to set up its payments bank
Ahmedabad based E-commerce Major Infibeam is now ready to expand its business in IT segment as it looking forward to setting up its payment bank along with raising $292 Mn (INR 2000 Cr).
In a recent company's general meeting held on June 28, 2018 shareholders have approved a change in the company name from “Infibeam Incorporation Limited” to "Infibeam Avenues Limited", according to a regulatory filing.
The company has sought shareholders approval to apply for authorisation from Reserve Bank of India for its payment bank. It is also approached the apex body to seek approval to explore the business opportunity in the manufacturing of IT hardware.
Post-RBI Approval, Infibeam wants to leverage its financial technology and expand business in the domain to issue all kind of prepaid paym...