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Next Orbit Ventures invests Rs 115 cr in Infibeam for 5% stake

Next Orbit Ventures has invested Rs 115 crore in Infibeam as part of its IPO, picking up around 5% in the ecommerce company. Infibeam will use the funds to expand its business, setup a cloud data center, 57 additional logistics centres, purchase of software and for purchase of property. Note that last month, Infibeam, the first e-commerce company in India to list on the stock exchanges, saw 63% of the shares subscribed on the second day of the offer. On day one of the IPO, Infibeam’s shares were subscribed 0.21 times. The company had hit the markets with its Rs 450 crore initial public offering on the 21st of March. However, Infibeam fixed a price band of Rs.360-432 per share for it public offer, which various investors found to be too high. Investment bankers walk out: SBI Caps and Elara…

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