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...