The Board of Directors of Infibeam Incorporation Limited has approved the Network18 Group's investment in the company. Ahmedabad-based Infibeam will issue fully convertible warrants, which can be later converted to equivalent number of equity shares, at a conversion price of Rs 186.91 per equity share. The investment will be channeled through Network18 subsidiary company TV18 Broadcast Limited, and will not exceed Rs 40 crore. The company said; Through this tie-up, Infibeam plans to integrate multiple platforms of Network18 Group assets to build large customer base with its differentiated offerings... Various mutual cooperation strategies will be explored during the course of this partnership specifically in digital space. Back in January last year, Infibeam had completed a similar transaction with The Times of India parent Bennett, Coleman and Company Ltd (BCCL). The conversion price was Rs 1,375 per equity share, and the total investment was up to Rs 60 crore. CCAvenue deal In June 2016, Infibeam had invested Rs 60 crore in payment gateway CCAvenue, and then invested an additional Rs 150 crore for a 7.5% stake in the company in February 2017. Finally, in July last year, Infibeam’s board approved the acquisition and amalgamation of CCAvenue, in an all stock deal. Infibeam and CCAvenue had also signed an agreement to invest in the digital cross border money remittance solution RemitGuru. Network18 Financials Network18 reported total consolidated revenues of Rs 439 crores for the quarter ended December 31, 2017, which was substantially higher than the Rs 373 crores posted in the same quarter last year, and a significant…
