Infibeam to transfer e-commerce platform on slump sale basis to Rediff.com for Rs 800 crore

Fintech digital player Infibeam Avenues has approved the transfer its e-commerce platform business on a slump sale basis to Rediff.com for a valuation of Rs 800.39 crore, a company filing said on August 8.

As part of the transaction, Infibeam’s stake in Rediff will increase from 54.1 percent to 82.7 percent, which will enable a continued 'strategic oversight', and align both companies to collaborate in AI, e-commerce, digital payments and other technology licensing.

"Infibeam will retain strategic oversight through its increased shareholding and will continue to explore synergies in technology, AI, and platform partnerships with Rediff," the company filing said.

The move creates a 'growth runway' for both Infibeam and Rediff, said Vishal Mehta, Chairman and Managing Director, Infibeam Avenues. “At Infibeam, we are accelerating our leadership in India’s payments and AI infrastructure, while Rediff is poised to dominate digital enterprise platforms and consumer commerce technology. By sharpening our focus and enhancing agility, we are unlocking new opportunities to deliver sustained, superior value to our shareholders and the broader ecosystem,” said Vishal Mehta.