Infibeam Avenues has successfully closed its ₹700 crore rights issue, which witnessed an oversubscription of 1.4 times. Structured as a 67:267 rights offering, the issue allowed existing shareholders to apply for 67 new shares for every 267 shares held.
Following the closure, the company’s rights issue committee approved the allotment of approximately 70 crore partly paid-up equity shares at ₹10 each. With this, Infibeam’s total equity share capital now stands at ₹348.9 crore.
“The funds raised will further strengthen our balance sheet and enable us to invest in key growth areas, including AI-driven products, digital payment solutions, and selective acquisitions aligned with our vision,” said Vishal Mehta, Managing Director and Chairman of Infibeam Avenues.
A significant portion of the funds will be allocated to Nueromind Technologies, the parent company of Phronetic.AI — Infibeam’s dedicated AI subsidiary. Phronetic develops custom AI software for enterprises and is also working to establish a distributed edge computing network across India.
During Infibeam’s Q4 earnings call, Mehta detailed plans for Infibeam Quantum Edge, a new initiative to roll out distributed data centres, starting with a 2 MW facility. These centres are expected to power real-time computing use cases and host the company’s AI framework, with ROI projected within 24 months.
Additionally, Phronetic recently signed an MoU with Nawgati to jointly develop AI solutions for the energy, fleet, and fueling sectors. The collaboration aims to deliver real-time decision-making tools using AI reasoning and video inputs.
Infibeam also plans to invest ₹87.7 crore into Rediff, its digital content and ecommerce arm. The capital will be used to expand RediffPay, its TPAP (Third Party Application Provider) for UPI, and to grow its digital financial services footprint. A new ecommerce platform, RediffOne, is also in the pipeline — described as an enterprise-grade AI and payments ecosystem.
Beyond its immediate growth areas, the company has set aside ₹250 crore for future acquisitions, strategic initiatives, and general corporate purposes.
Shares of Infibeam closed the day slightly lower at ₹16.38 on the BSE, down 0.49%.
