Infibeam Avenues to acquire 54% stake in Rediff

Gandhinagar-based fintech company Infibeam Avenues has entered into a definitive agreement to acquire a 54% stake in Rediff, one of India’s oldest internet firms.

In a filing with the BSE, Infibeam said it invested around Rs 50 crore in Rediff, split equally between equity and debt. In lieu of the investment, Infibeam will get a 54% shareholding.