Moneycontrol
Apr 19, 2017 08:45 AM IST | Source: CNBC-TV18

Will subsequently merge CC Avenue into self, says Infibeam

In an interview with CNBC-TV18, Vishal Mehta, MD of Infibeam Incorporation spoke about the investment so far and future plans with respect to buying more stake.

Infibeam Incorporation recently announced an investment into a payments gateway CC Avenue.

In an interview with CNBC-TV18, Vishal Mehta, MD of Infibeam Incorporation spoke about the investment so far and future plans with respect to buying more stake.

He said that Infibeam has been working with CC Avenue for many years.

He further said that Infibean has invested Rs 60 crore for 3.85 percent stake in CC Avenue last year. Also, in February 2017, Infibeam has announced to make an investment of additional Rs 150 crore for 7.5 percent equity into the company, he added.

Will subsequently merge CC Avenue into Infibeam, said Mehta.

Watch accompanying video for more details.

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