Acquisitions30 Sept 2025, 07:32 pm
Infibeam Avenues Completes Disinvestment of IPMPL, Increases Shareholding in Rediff to 82.66%
AI Summary
Infibeam Avenues Ltd. has completed the disinvestment of its Platform Business Undertaking through a slump sale to its subsidiary, Rediff.com India Limited. The transaction has resulted in Infibeam Avenues' shareholding in Rediff increasing to 82.66%. The Platform Business Undertaking, previously owned by Infibeam Projects Management Private Limited, is now a wholly owned subsidiary of Rediff and a step-down subsidiary of Infibeam Avenues.
Key Highlights
- Infibeam Avenues has completed the disinvestment of its Platform Business Undertaking through a slump sale to Rediff.com India Limited.
- The transaction has resulted in Infibeam Avenues' shareholding in Rediff increasing to 82.66%.
- The Platform Business Undertaking was previously owned by Infibeam Projects Management Private Limited, which is now a wholly owned subsidiary of Rediff and a step-down subsidiary of Infibeam Avenues.
- The disinvestment is in line with the objects of the Rights Issue as specified in the Letter of Offer.
- The transaction is a related party transaction, entered at arm's length.