Rediff files confidential IPO papers; eyes Rs 600-800 crore fundraise

Rediff, a subsidiary of listed fintech company AvenuesAI, has filed draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) through the confidential pre-filing route, marking an important step towards a potential public listing.

“Rediff.com India Limited (‘Rediff’), a subsidiary of AvenuesAI Limited (‘Company’), has filed the Pre-Filed Draft Red Herring Prospectus (‘Pre-DRHP’) with SEBI, BSE and NSE for a proposed initial public offering of its equity shares……,” says AvenuesAI in its stock exchange statement filing on Tuesday.