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Infibeam to invest Rs 45 crore in payment gateway CCAvenue

Ahmedabad-based ecommerce company Infibeam has invested Rs 45 crore in payment gateway CCAvenues. In a BSE notification, Infibeam said that it's wholly owned subsidiary NSI Infinium Global Private Limited has signed a term sheet with CCAvenue parent Avenues India Private Limited. The companies are in the process of signing a definitive agreement and finalising the percentage of investment. NSI Infinium operates the ecommerce marketplace Infibeam.com and the DIY ecommerce platform BuildaBazaar.ooo. In a statement, Infibeam said that: "Under the business model of e-commerce, the role of payment processor is very crucial in completing the financial transactions after the purchase is made by the customer. The payment integration is a very critical/equally important for the merchant in expanding his merchandise which on the other hand results into higher sales. The advantage to Infibeam would be in form of incremental revenue by way of deep integration for customers shopping on BuildaBazaar merchant store and also on Infibeam.com." Note that Infibeam’s BuildaBazaar had launched an ecommerce marketplace called Dhamaal.com, in partnership with Avenues, back in August 2013. We will have more from CCAvenue regarding this investment and how they view their relationship with Infibeam tomorrow. Infibeam's IPO: Infibeam's Rs 450 crore initial public offering (IPO) was met with lukewarm interest but was fully subscribed on its third and final day, in March this year. Concerns were raised regarding Infibeam's valuation of shares on Day 1, as the company had fixed a price band of Rs 360 to Rs 432 per share for its public offer. At the…

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