Infibeam Avenues Limited to make further investment in RemitGuru

The Board of directors of Infibeam Avenues Limited has approved to make further investment in Avenues Payments India Private Limited ("RemitGuru"). The company will invest amount not exceeding Rs. 1.05 Cr.

RemitGuru in the business of a digital cross border money remittance solution with a secured, scalable and configurable platform. Customers from more than 25 countries send money to India through this platform in 8 currencies. The Company seamlessly integrates to multiple payment systems and compliance networks across the world. Furthermore, the company also offers its state of the art platform to banks across the globe to enable them to launch their own cross border transaction services.

It provides world-class money transfer software for banks and other business entities with a host of modules, which enables them to launch their own remittance service with minimal capital expenditure and time to market.

Shares of Infibeam Avenues Ltd was last trading in BSE at Rs.41.35 as compared to the previous close of Rs. 40.2. The total number of shares traded during the day was 545889 in over 1657 trades.

The stock hit an intraday high of Rs. 42.35 and intraday low of 40.45. The net turnover during the day was Rs. 22461232.

Source : Equity Bulls

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