Infibeam Avenues acquires 54.1% stake in Rediff.com for ₹50 crore

Fintech agency Infibeam Avenues Ltd. introduced on Friday that it has entered right into a definitive settlement to amass a 54.1 per cent stake in web enterprise agency Rediff.com India Ltd.

“This internally funded acquisition marks a big milestone for Infibeam Avenues, marking the start of its consumer-facing digital monetary service as an aggregator backed by mainstream information, cloud-based enterprise e-mail storage, and collaboration platform,” acknowledged the corporate, which is headquartered in GIFT Metropolis in Gujarat. 

The acquisition is price ₹50 crore which is a mixture of fairness and debt, firm sources mentioned. Rediff.com India Ltd. was integrated in January 1996 and at present has a turnover of ₹36 crore. It attracts roughly 38 million month-to-month guests and ranks among the many prime 1,000 highest-traffic websites globally.

“This transaction harnesses the synergies between Infibeam Avenues’ fintech experience and Rediff.com’s esteemed model legacy. We’re poised to cement our place as a pacesetter within the dynamic panorama of digital finance aggregation, cloud storage and content material distribution. With this synergy, we’re poised to unlock new dimensions of development, redefining the essence of cloud and fintech engagement,” Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd, acknowledged.

Submit funding, Rediff.com will turn out to be a subsidiary of Infibeam Avenues.

In the meantime, the corporate reported a gross income of ₹752 crore, accompanied by a Revenue After Tax (PAT) of ₹50.4 crore, within the first quarter of monetary 12 months 25. The primary quarter’s web income elevated by 20 per cent, and PAT grew by 59 per cent in comparison with the corresponding quarter of the earlier monetary 12 months.

“We’re happy to report that our subsidiary in Saudi has been granted a Fee Technical Service Supplier (PTSP) certification from the Saudi Central Financial institution (previously Saudi Arabian Financial Authority, SAMA). This certification permits Infibeam’s flagship cost platform, CCAvenue, to function as a cost processor within the nation. This makes Infibeam the primary Indian fintech firm to realize such a milestone in Saudi Arabia, positioning CCAvenue as a serious participant within the digital funds market in Saudi Arabia,” mentioned Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd.