Infibeam Avenues Ltd has entered into an agreement for investment in Instant Global Paytech Private Limited.
The company will invest Rs.6.00 Crore for acquiring 14,400 Equity Shares.
Instant Global Paytech Private Limited ("IGPL") is in the business of offering next generation payment technology for offline transactions. The technology enables merchants and retailers to offer digital solutions to the largely cash transacting customers. IGPL largely caters to Tier II and Tier III markets and plans to further penetrate these markets as cash transactions in these markets are relatively higher.
Shares of Infibeam Avenues Ltd was last trading in BSE at Rs.47.85 as compared to the previous close of Rs. 44.55. The total number of shares traded during the day was 2976463 in over 8768 trades.
The stock hit an intraday high of Rs. 49.05 and intraday low of 44.15. The net turnover during the day was Rs. 140225554.