Infibeam Avenues Rises Around 4% on Alliance with Suvidhaa Infoserve

The shares of Infibeam Avenues hiked 3.6% on Tuesday on a financial alliance with Suvidhaa Infoserve. Moreover, Suvidhaa infoserve, Suvidhaa Infoserve will acquire around 5% stake at INR 25 Crore and while the value of is INR 500 crore.

“Through the scheme of amalgamation, Infibeam Avenues would divest a subsidiary to Suvidhaa Infoserve,” Infibeam said. Shapoorji Mistry is a good investor & also owns a stake in Suvidhaa.

Suvidhaa Infoserve firm distributes personal loan, investment in mutual funds, business loan and banking services like account opening & deposits, prepaid cards, etc.

“Both companies are strategically planning to build an omnichannel marketplace where Infibeam will be connected to the Suvidhaa’s vast networks of around 91,000 outlets under 4500+ pin codes,” the company said.

At 04:00 PM, December 18, 2018, the share price was quoting INR 49.05 or up INR 0.30 or 0.62%.

Leave a Reply

Your email address will not be published. Required fields are marked *