Infibeam to sell e-comm unit to Rediff for Rs 800 Cr

Infibeam Avenues has approved a slump sale of its e-commerce platform infrastructure business to its subsidiary Rediff.com India Ltd. for a consideration of Rs 800.39 crore in a mix of cash and equity.

The move aims to unlock greater value and operational focus for both entities. While Infibeam sharpens its focus on digital payments (via CCAvenue) and AI infrastructure (through Phronetic.ai), Rediff will strengthen its enterprise…