In May 2016, Infibeam had invested about $6.7 Mn (INR 45 Cr) in the payment gateway. As per a recent filing, Infibeam currently holds 3.85% of equity shares in CCAvenue.
Infibeam has agreed to invest about $22.4 Mn (INR 150 Cr) for further acquiring 7.5% equity shares of CCAvenue, said the company in a regulatory filing. Subsequently, it plans for ‘amalgamation of CCAvenue into Infibeam by issuance of fresh shares subject to due diligence and regulatory approvals.’
The filings state that Infibeam raised $62.1 Mn (INR 416 Cr) as net proceeds from the IPO last year. The company’s total revenue of FY 2017 third quarter witnessed a 14% increase from the revenue in third quarter of FY 2016. From $13.5 Mn (INR 90.8 Cr) in Q3’16 it increased to $15.3 Mn (INR 102.7) Cr in Q3’17.
As on 13th February, 2017 the stock price of the company was INR 1369.40 and the market capitalisation of $1.09 Bn (INR 7312.33 Cr).
As per the filings, ‘Infibeam caters to B2E, B2B and B2C segment of business for its customers. Integration of Payment platform with logistic & warehousing, ad and domain registry along with data centre and data analytics, the value added services provided by Infibeam makes a full circle in providing all services under one roof to the customers.’