Infibeam Avenues concludes Rights Issue worth ₹700 crore, shares oversubscribed 1.4 times
The company in an exchange filing on Tuesday stated, "In terms of the Letter of Offer dated June 19, 2025, the Rights Issue opened on Thursday, July 03, 2025, and closed on Friday, July 11, 2025 with an over subscription of 140% i.e. 1.40 times of the total Rights Issue Size of Rs. 69,998.57 lakhs.
It further added, 'The Rights Issue Committee of the Company at its meeting held today, i.e. July 15, 2025, has considered and approved the allotment of 69,99,85,723 Partly paid up Equity Shares at an issue price of Rs. 10/- per Rights Equity Share including a share premium of Rs. 9/."
Notably, ₹ 5 per share, which includes a premium of INR 4.50, has been received on application. The remaining amount will be payable on the final call as determined by the Board or Committee at their sole discretion, from time to time, the company informed.
Infibeams Avenues plans to use the net proceeds from the rights issue towards expanding RediffPay to support UPI and broader digital financial services, developing RediffOne, investing in Phronetic.AI, other acquisitions and establish a distributed network of data center capacity for edge computing across India.
Speaking on the rights issue, Vishal Mehta, Chairman and Managing Director of Infibeam Avenues said, 'We are sincerely grateful for the overwhelming support and confidence shown by our shareholders. Their belief in our strategic vision motivates us to continue building innovative, AI-powered platforms and solutions for India and beyond."
He further added, "the funds raised will further strengthen our balance sheet and enable us to invest in key growth areas, including AI-driven products, digital payment solutions, and selective acquisitions aligned with our vision.'
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