Infibeam | Pixr8 News

5Jun By AdityaNo Comments

BUSINESS

Infibeam Looking to Raise 2000 Crore To Start Payment Bank Business

India's first profitable E-commerce company Infibeam will seek shareholders approval on June 28 to expand business in IT industry and also to launch a payments bank. The Gujrat based company said in its official statement, "We are looking to enter into payment bank business and to raise Rs 2,000 crore". The company has also proposed to change the name from Infibeam Incorporation Limited to "Infibeam Avenues Limited". Infibeam business profit in 2018 was more than doubled after tax to Rs 88.1 crore from Rs 43.5 crore a year ago. The e-commerce venture is also mulling to explore the business opportunity in the manufacturing of IT hardware. The company seeking RBI permit to issue all kind of prepaid payment instruments e-wallets, co-branded wallets, and any other pre-paid payme...

Infibeam to Acquire Snapdeal’s Unicommerce for Rs 120 Crore

7May By Sheldan RungasamyNo Comments

ACQUISITION

Infibeam to Acquire Snapdeal’s Unicommerce for Rs 120 Crore

Infibeam Incorporation Ltd, parent company of the country’s only listed e-commerce will acquire 100% stakes in the tech solutions company of Snapdeal, Unicommerce. Infibeam released a statement stipulating that in reached an agreement with Snapdeal’s parent company, Jasper Infotech Pvt. Ltd to acquire Unicommerce for the sum of Rs 120 crore. Snapdeal reported a 75% jump in loss for the financial year ended March 2017 and are now selling Unicommerce for 55% less than they acquired it in 2015 for $40 million. Founded by IIT Delhi alumni Ankit Pruthi, Karun Signla and Vibhu Garg in 2012, Unicommerce licensed a product called Uniware that is a software-as-a-service (SaaS) application for end-to-end management of order fulfillment. The application specializes in managing vendors, procurem...

E-commerce Conglomerate Infibeam raises $6.2 Million from TV18

15Feb By Sabhyata AgarwalNo Comments

FUNDING

E-commerce Conglomerate Infibeam raises $6.2 Million from TV18

Infibeam, an Indian e-commerce and internet conglomerate has raised Rs 40 crore from Mukesh Ambani's supervised TV18 Broadcast Limited. The Ahmedabad based e-commerce giant has signed a stock-exchange disclosure according to which Infibeam will issue fully convertible warrants equivalent to a 0.4% stake in the company upon conversion. Infibeam which was a news maker in the year 2017, had the preferential shares been issued at a conversion price of INR 186.91 per equity share as per the company’s BSE filing on February 14, 2018. The conglomerate had recorded a similar transaction in the past with Bennett&Coleman Company Limited, that invested Rs 60 crore in Infibeam by subscribing to preferential warrants in January 2017. Infibeam was founded by former Amazon executive Vishal M...

Online E-commerce Firm Infibeam Approved Share Split in The Ratio of 1:10

14Jul By PriyankaNo Comments

Market

Online E-commerce Firm Infibeam Approved Share Split in The Ratio of 1:10

The board of e-commerce firm Infibeam Incorporation today approved share split plan in the ratio of 1:10 that will make its scrip more affordable for the investors and increase market liquidity. The board also cleared amalgamation of CC Avenue with the company in which Infibeam has controlling stake. "The Board of Directors of the Company at its meeting held on Thursday July 13, 2017... has approved..split/sub- division of equity shares of the company from existing face value of Rs 10 per equity share to face value of Re 1 per equity share. Amalgamation of Avenue (India) Private Limited (CC Avenue) with the company," Infibeam said in a regulatory filing. The board also approved altering the capital clause of memorandum of association, in connection with the split of shares, setting ...

15May By PriyankaNo Comments

FUNDING

E-commerce Platform Infibeam to Invest $468k in RemitGuru

E-commerce firm Infibeam Incorporation Ltd has agreed to invest Rs 3 crore ($468,000) in global digital remittance solutions platform RemitGuru. “As a part of this investment transaction, Infibeam and CC Avenue will invest Rs. 3 crore in RemitGuru wherein Infibeam will invest Rs. 2 crore,” Infibeam said in a statement. The deal would be a cash deal transaction helping Infibeam to increase cross-border e-commerce business transactions with cash-free modes through fintech solutions. CC Avenue already holds 26.76 per cent stake in RemitGuru. “This partial acquisition would not fall within related party transactions and no governmental or regulatory approvals are required for the same,” it said. займ в тамбовезайм на 100000займ на карту честное слово...

Infibeam Acquired Another 7.5% stake in CC Avenue for Rs 150 Crore

15Feb By NitishNo Comments

ACQUISITION

Infibeam Acquired Another 7.5% stake in CC Avenue for Rs 150 Crore

Gujarat based India's first listed e-commerce company Infibeam acquired 7.5% stake in CC Avenue by investing Rs 150 crore. The e-commerce company has already owns a 3.85% stake in CC Avenue through subsidiary NSI Infinium Global. The recent acquisition will merge CC Avenue with Infibeam online payment gateway at about Rs 2,000 crore. On Monday, Infibeam posted third-quarter net profit to Rs 12.8 crore from Rs 50 lakh a year earlier. Revenue rose 14% to Rs 102.7 crore. “Integration of the payment platform with logistic and warehousing, ad and domain registry along with its data centre and data analytics, the value-added services provided by Infibeam would make a full circle in providing all services under one roof,“ said Vishal Mehta, the managing director of Infibeam. “CC Avenue s...

31May By NitishNo Comments

FUNDING

India’s Only Profitable Ecommerce Platform Invested 45 Crores in CCAvenue

India's first profitable e-commerce portal Infibeam said that it's investing Rs 45 crore in one of India's largest payment gateway CCAvenue and is currently "in further discussion for signing of definitive agreement". CCAvenue's payment solutions will be deeply integrated to Infibeam e-commerce marketplace and BuildaBazaar merchant store. Infibeam operates via its subsidiary NSI Infinium Global that holds e-commerce marketplace Infibeam.com and the do-it-yourself e-commerce platform BuildaBazaar. It's already has a joint venture with Avenues India called Avenues Infinite that operates the e-commerce marketplace Dhamaal.com. Infibeam owns 49.9% stake in the venture while the remaining 50.01% is owned by Avenues India. Infibeam likely to compete with other e-commerce platform in paym...

16Mar By AnkitaNo Comments

BUSINESS

India’s First Profitable E-commerce Firm Infibeam Looking to Raise $334 Million in IPO

E-commerce firm Infibeam Incorporation is eyeing a valuation of as much as $334 million as it sells shares next week in the sector's first initial public offering. The company, founded by former Amazon.com employee Vishal Mehta in 2007, set a price range of 360 rupees to 432 rupees per share on Tuesday as it seeks to raise up to 4.5 billion rupees ($67 million) in the IPO. Speaking at a news conference, executives said they expected a dilution of 20 percent to 22 percent in the IPO, which means the company could be valued at 22.5 billion rupees after the share sale. The sale will take place from March 21 until March 23, and trading is set to begin on or around April 4. Although a comparatively small IPO, Infibeam's debut is widely expected to serve as a proxy for stock market i...