Rediff

Infibeam will sell its e-commerce platform to Rediff for ₹800 crore, raising its stake to 82.7%; Rediff may explore IPO and scale digital business offerings

Internet company Rediff is exploring options, including an initial public offering, to raise up to USD 100 million (around Rs 875 crore) to accelerate its push into enterprise-grade email, business productivity suite and digital payments, according to sources. The company, which is majority owned by financial technology company Infibeam Avenues Ltd, is considering options such as launching an IPO, private placement, or through private equity participation to raise capital, sources privy to the development said. The board of Rediff.com is currently evaluating fundraising options and is expected to finalize the structure in the coming weeks, they said. However, the IPO option has a high chance of being chosen by management for its USD 100 million fundraising, sources said. When contacted, Rediff Senior Vice-President for Corporate Development, Ashish Mehrota, said, Yes, our company explores various fundraising options from time to time. At this stage, we do not have anything specific

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