Infibeam Avenues zooms on getting RBI`s final authorization to operate as Payment Aggregator
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Infibeam Avenues is currently trading at Rs. 37.00, up by 1.90 points or 5.41% from its previous closing of Rs. 35.10 on the BSE.
The scrip opened at Rs. 36.79 and has touched a high and low of Rs. 38.45 and Rs. 36.55 respectively. So far 6400226 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 40.00 on 01-Feb-2024 and a 52 week low of Rs. 12.85 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 38.45 and Rs. 32.84 respectively. The current market cap of the company is Rs. 10330.00 crore.
The promoters holding in the company stood at 28.13%, while Institutions and Non-Institutions held 6.40% and 65.47% respectively.
Infibeam Avenues has received final authorisation from Reserve Bank of India (RBI) to operate as a Payment Aggregator under the Payment Settlements Act, 2007 for its payment gateway brand -- CCAvenue.
In October 2022, Infibeam Avenues received ‘in-principle’ approval from the RBI to operate as a Payment Aggregator (PA). RBI had introduced the payment aggregator framework in March 2020, which necessitates payment gateways to secure an aggregator license for acquiring merchants and delivering cutting-edge digital payment acceptance solutions.
Currently, in total 10 million plus merchants are on Infibeam’s platform. This year, the company has already crossed half a million merchant onboarding in the 1HFY24. The company attributes this growth to the growing relationship with the bank partners and merchants.
Infibeam Avenues is engaged in providing online retail services.
