Fintech firm Infibeam Avenues has concluded its Rs 700-crore rights issue, which was oversubscribed by 1.4 times.
The rights issue offered eligible shareholders the opportunity to buy four new shares for every existing share held, at a price of Rs 10 per share, the company said in a statement.
"The rights issue committee of the company, in its meeting held on July 15, 2025, approved the allotment of 69,99,85,723 partly paid-up equity shares…," the company said.
The funds raised will be used to support the company's expansion in artificial intelligence (AI) and digital payments.
"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," Infibeam Avenues Chairman and Managing Director Vishal Mehta said.
The proceeds will be directed towards Phronetic.AI, the company's Agentic AI and Video Intelligence business. It will also aid the expansion of RediffPay to support UPI and broader digital financial services, and development of RediffOne, an enterprise-grade platform.
The company also seeks to pursue strategic acquisitions that will complement its AI-led marketplace strategy, and build a distributed network of data centres for edge computing across India.
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