Infibeam Avenues’ board has approved a ₹800.39 crore slump sale of its Ecommerce Platform Technology Infrastructure business to Rediff.com India Limited
Deal structure includes ₹400 crore in cash, and ₹400.39 crore via issuance of new equity shares in Rediff
Infibeam will retain an 82% stake in Rediff after the transaction
Infibeam Avenues Limited’s board approve a Business Transfer Agreement (BTA) with Rediff.com India Limited to divest its Platform Business Undertaking through a slump sale. The deal, valued at ₹800.39 crore, will see Infibeam transfer its Ecommerce Platform Technology Infrastructure business to Rediff, while holding an 82% stake in the company after this transaction.
The consideration of ₹800.39 crores, includes ₹400 crores in cash and ₹400.39 crores through the issuance of fresh equity shares.
This deal will allow Infibeam to focus on payments and AI, while Rediff scales its enterprise software and ecommerce offerings. The slump sale includes transferring the Platform Business Undertaking on a going concern basis, pending shareholder and regulator approvals.
The Platform undertaking generated ₹180.16 crore in revenue, which accounts for 4.83% of the company’s total turnover. The undertaking’s net worth stood at 621.15 crore, representing 18.58% of the company’s total net worth.
Infibeam will double down on digital payments and AI innovation through CCAvenue and Phronetic.AI, respectively, while Rediff enhancing its enterprise offerings through the integration of its robust ecommerce platform framework suite into the upcoming RediffOne business productivity suite.
“This strategic move creates a powerful growth runway for both Infibeam and Rediff. At Infibeam, we are accelerating our leadership in India’s payments and AI infrastructure, while Rediff is poised to dominate digital enterprise platforms and consumer commerce technology,” said Vishal Mehta, chairman and managing director of Infibeam Avenues.
Rediff.com, an Indian internet firm, provides services such as an Enterprise Email & Collaboration Suite Platform, payment solutions, and news & content offerings. It has no affiliation with the promoter, promoter group, or group companies of Infibeam Avenues, making this an arm’s length related party transaction.
Rediff is evaluating capital-raising options, including a potential IPO, to fuel rapid growth across its product portfolio and expand its presence in the enterprise SaaS and digital commerce markets.
The deal is expected to close within roughly 60 days, subject to statutory clearances and compliance with the terms of the BTA. The shareholding structure of the listed entity will remain unchanged post-transaction.
