Infibeam Closes INR 700 Cr Rights Issue With 1.4X Oversubscription

Infibeam Avenues has closed its INR 700 Cr rights issue with an oversubscription of 1.4X

A majority of the funds accrued from the rights issue would be diverted to beef up Infibeam’s subsidiary Nueromind Technologies, which is the parent of Phronetic.AI

With the fresh capital, the company announced that it is planning to launch a new ecommerce platform under Rediff, named RediffOne

Fintech company Infibeam Avenues has closed its INR 700 Cr rights issue with an oversubscription of 1.4X. The issue was structured as a…