Infibeam Avenues Ltd, India’s leading listed fintech company received Board approval to raise Rs. 161.50 Crores funding through Preferential allotment of fully convertible Warrants. The funds will be deployed for the company’s domestic and international fintech and software business expansion as well as for other business purposes.
On Thursday, the Board of Directors of Infibeam Avenues Ltd. approved the issuance of 9.50 Crores Fully Convertible Warrants , on a preferential basis, subject to shareholder’s and other requisite approvals, to VYBE Ventures LLP at an issue price of Rs. 17 per warrant that are convertible into equivalent fully paid up Equity Shares of Face Value of Re 1 (Rupee One only) each.
VYBE Ventures LLP is owned by Mr. Vishwas Patel who is an Executive Director at Infibeam Avenues Limited and Mr. Vivek Patel (his relative) as designated partners.