E-commerce company Infibeam to receive Rs 40 crore investment from TV18

Must Read

Sanju Samson to replace Shikhar Dhawan in T20 series against WI

Sanju Samson will replace injured Indian opener Shikhar Dhawan in the T20s series against West Indies starting from next...

Supreme Court lashes out on Centre & Delhi govts for Rising Pollution

The Apex Court of the Country, the Supreme Court on Monday lashed the Central and State Government for their...

Harbhajan Singh wishes BCCI Prez Sourav Ganguly to change Selection Panel

The Indian off-spinner Harbhajan Singh on Monday urged Sourav Ganguly, President of BCCI (The Board of Control for Cricket...

Infibeam, the Ahmedabad-based e-commerce company, which is also the country’s first e-commerce firm to get listed, is receiving about Rs 40 crore funding from TV18 Broadcasts.

In the stock exchange disclosure, the e-commerce company said that it will issue fully convertible warrants equivalent to a 0.4% stake in the company upon conversion. The transaction appears to be an ad-for-equity-style investment.

Last year, Bennett, Coleman and Company Ltd (BCCL), the publisher of The Times of India, had invested Rs 60 crore ($8.8 million) in Infibeam by subscribing to preferential warrants in January 2017.

Infibeam was founded in 2010 by former Amazon executive Vishal Mehta. The Ahmedabad-based e-commerce firm is the only profitable eCommerce marketplace in India. The company went public in April 2016 with listing on National Stock Exchange.

The company was reportedly involved in discussions and also submitted its term-sheet for the acquisition of troubled eCommerce platform Snapdeal. However, the deal didn’t materialise.

For the quarter ended December 2017, the company posted a net profit of Rs 30.8 crore on consolidated total income of Rs 214.94 crore. The company earns significantly from its services segment that includes BuildaBazaar — a platform which provides cloud-based solutions for merchants. BuildaBazaar generates revenue by charging a set-up cost to merchants, as well as through monthly fee and a per-transaction commission.

- Advertisement -

Latest News

Sanjivani episode 85 written update, December 6: Sid learns the truth about Asha’s pregnancy

The recent episode of Sanjivani begins as Dr. Ishani tells Dr. Sid that they can't be together because he's...

Weekend watchlist: Films and shows that are releasing today

The Weekend is here!  To enjoy the end of December’s first week, here is a list of new films and television series that are releasing...

Kasautii Zindagii Kay episode 318 written update, December 6: Prerna tells her decision to Mohini to stay with Anurag

The recent episode of Kasautti Zindagii Kay opens with Mohini and Veena still fighting about Anurag and Prerna. Veena asserts that Prerna is bearing...

Pati, Patni Aur Woh movie review: Bhumi Pednekar shines in a confused comedy about marriage and infidelity

The movie revealed its true intentions and its lesson: Men will always be men Cast: Kartik Aaryan, Ananya Panday, Bhumi Pednekar, Aparshakti Khurana Director: Mudassar Aziz Rating:...

Terrence Malick’s ‘A Hidden Life’ gets a rare screening at the Vatican Film Library in Rome

Director Terrence Malick's historical drama film A Hidden Life was screened at the Vatican in Rome, this Wednesday. According to The Hollywood Reporter, Fox Searchlight,...
- Advertisement -

More Articles Like This