Infibeam Avenues divests 100% in subsidiary Cardpay to GoPay

Infibeam Avenues Limited has divested its 100% ownership with control in its Wholly Owned Subsidiary i.e. Cardpay Technologies Private Limited ("Cardpay") to its Subsidiary i.e. Instant Global Paytech Private Limited ("GoPay"). Hence, Card pay will become a step down Subsidiary of the Company.

The acquirer i.e. Instant Global Paytech Private Limited ("GoPay"), a Company incorporated under the Companies Act, 2013 and it's a Subsidiary Company.

GoPay is in the business of offering next generation payment technology for offline transactions. The technology enabies merchants and retaiiers to offer digital solutions to the largely cash transacting customers. GoPay largely caters to Tier 2 and Tier 3 markets.

Shares of Infibeam Avenues Ltd was last trading in BSE at Rs.85.7 as compared to the previous close of Rs. 85.9. The total number of shares traded during the day was 30145 in over 308 trades.

The stock hit an intraday high of Rs. 86.8 and intraday low of 84.1. The net turnover during the day was Rs. 2596472.

Source : Equity Bulls

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