Infibeam Avenues Raises ₹700 Cr via Oversubscribed Rights Issue
In a significant development, Infibeam Avenues, a leading digital transformation company, has successfully raised ₹700 crore through an oversubscribed rights issue. The company has offered shares at ₹10 each, which has been met with enthusiastic response from investors. This substantial funding will enable Infibeam Avenues to accelerate its growth plans, expand its AI, payments, and enterprise platforms, develop data centers, and pursue strategic acquisitions.
The rights issue, which was opened on June 24 and closed on July 8, received an overwhelming response from existing shareholders, indicating strong investor trust in the company’s vision and potential. The oversubscription of the rights issue is a testament to Infibeam Avenues’ reputation as a pioneer in the digital transformation space.
Infibeam Avenues has been reporting impressive financial performance in recent quarters. In the last quarter, the company recorded a revenue of ₹1,160.5 crore and a net profit of ₹49.1 crore. This robust financial performance has provided the company with a solid foundation to scale up its operations and expand its offerings globally.
The funds raised through the rights issue will be utilized to strengthen Infibeam Avenues’ digital and AI capabilities, enabling the company to provide more innovative and efficient solutions to its clients. The company plans to develop its AI-powered platforms, which will enable businesses to leverage the power of artificial intelligence to drive growth and efficiency.
In addition to AI, Infibeam Avenues will also focus on expanding its payments platform, which is designed to support multiple payment modes and provide a seamless payment experience to customers. The company’s payments platform is already used by several leading e-commerce companies and financial institutions, and the expanded capabilities will enable it to attract more clients and increase its market share.
The company will also use the funds to develop its data centers, which will enable it to provide more robust and reliable data storage and processing services to its clients. This will be critical in the era of big data and analytics, where companies are looking for reliable and secure data storage solutions to drive business decisions.
Furthermore, Infibeam Avenues plans to use the funds to pursue strategic acquisitions that will enable it to expand its offerings and capabilities. The company has been actively pursuing acquisitions in the digital transformation space, and the additional funding will provide it with the necessary resources to complete more deals.
“We are thrilled with the response to our rights issue, which demonstrates the faith that our investors have in our vision and potential,” said Apar Vijay, CFO of Infibeam Avenues. “The funds raised will enable us to accelerate our growth plans, expand our capabilities, and provide more innovative solutions to our clients. We are confident that our digital and AI offerings will attract more clients globally and drive long-term growth for the company.”
Infibeam Avenues is a leading digital transformation company that provides a range of solutions and services to businesses, including e-commerce, fintech, and enterprise software. The company has a strong track record of innovation and has developed several cutting-edge platforms and solutions that have been widely adopted by clients.
In conclusion, Infibeam Avenues’ successful rights issue is a significant milestone for the company, providing it with the necessary resources to accelerate its growth plans and expand its offerings globally. With its strong financial performance, innovative solutions, and strategic plans, Infibeam Avenues is well-positioned to emerge as a leading player in the digital transformation space.
Source: https://ascendants.in/business-stories/infibeam-avenues-700-cr-rights-issue/
