Infibeam Avenues surges on getting nod to make further investment in Instant Global Paytech
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Infibeam Avenues is currently trading at Rs. 16.75, up by 0.70 points or 4.36% from its previous closing of Rs. 16.05 on the BSE.
The scrip opened at Rs. 16.00 and has touched a high and low of Rs. 17.30 and Rs. 16.00 respectively. So far 1248688 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 23.05 on 11-Mar-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. 17.50 and Rs. 15.55 respectively. The current market cap of the company is Rs. 4498.67 crore.
The promoters holding in the company stood at 30.64%, while Institutions and Non-Institutions held 6.06% and 63.30% respectively.
Infibeam Avenues has received an approval for making further investment in the Subsidiary Company i.e. Instant Global Paytech. Objects of acquisition is to grow the existing assisted commerce business of Go Payments as well get into the offline merchant acquiring business by promoting the physical distribution of the CC Avenue Merchant App, point of Sale devices and Tap pay product. The Board of Directors of the company at its meeting held on February 6, 2023 has considered and approved the same.
Infibeam Avenues is engaged in providing online retail services.
