Infibeam Avenues has entered into a binding agreement to sell its subsidiary Infinium India to IngeniusE-commerce for Rs 60 crore.
“The company (Infibeam Avenues) has divested its ownership with control in its wholly-owned subsidiary Infinium (India) to Ingenius E-commerce. The consideration received from the sale is Rs 60 crore,” Infibeam said in its filing to the stock exchange.
Ingenius Ecommerce, which owns and runs Tradohub, a B2B aggregator portal for industrial goods, will acquire 100% equity stake in Infinium India. Infinium India provides high-quality, technically advanced customised turnkey systems, solutions and services in the field of broadband satellite communications.
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