The e-commerce and web services company Infibeam has got a big investor; the leading media group Network18 has decided to invest Rs 40 crore through its subsidiary company TV18 Broadcast.
As per agreement, Infibeam will issue preferential issue of fully convertible warrants, convertible into equivalent number of equity shares to TV18 Broadcast at a conversion price of Rs. 186.91/- per equity share for an aggregate consideration of not exceeding Rs. 40 crore.
The decision has been approved by the board of directors of Infibeam.
Infibeam offers end-to-end e-Commerce services on the internet to small and large merchants, enterprises and government. Now it will integrate multiple platforms of Network18 Group assets to build large customer base with its differentiated offerings. This partnership will further strengthen Infibeam’s leadership position across the businesses.
The decision has been approved by the board of directors of Infibeam.
Infibeam offers end-to-end e-Commerce services on the internet to small and large merchants, enterprises and government. Now it will integrate multiple platforms of Network18 Group assets to build large customer base with its differentiated offerings. This partnership will further strengthen Infibeam’s leadership position across the businesses.
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