Infibeam Avenues surges on getting RBI`s nod for payment aggregator licence
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Infibeam Avenues is currently trading at Rs. 16.41, up by 1.94 points or 13.41% from its previous closing of Rs. 14.47 on the BSE.
The scrip opened at Rs. 16.36 and has touched a high and low of Rs. 16.85 and Rs. 15.91 respectively. So far 1788286 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 24.08 on 31-Jan-2022 and a 52 week low of Rs. 12.50 on 11-May-2022.
Last one week high and low of the scrip stood at Rs. 16.85 and Rs. 14.20 respectively. The current market cap of the company is Rs. 3873.18 crore.
The promoters holding in the company stood at 30.64%, while Institutions and Non-Institutions held 7.12% and 62.24% respectively.
Infibeam Avenues has received in-principle approval from RBI to operate as a Payment Aggregator. Under this provision, the fintech major will get a substantial boost to further expand its reach in multiple business segments for both online and recently launched offline digital transactions. The positive nod from RBI will reiterate Infibeam’s flagship brand CCAvenue’s position as one of India’s most experienced and secured digital payment gateways.
As a leading digital payment player, Infibeam has the highest portfolio of payment options for merchants with over 200 plus multi -currency payment options in India alone with run rate of 4 lakh crore annually across the platform. Given its wide network across industry verticals and quantum of transaction processing volume (TPV), Infibeam's flagship brand CCAvenue is well placed to leverage the new role as a payment aggregator and help bring a greater number of micro-entrepreneurs under the fold of e-commerce.
Infibeam Avenues is engaged in providing online retail services.
