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During the quarter, the firm approved a proposal to change its corporate name to AvenuesAI Limited as part of its rebranding exercise
The board has also appointed Neharika Vohra as an additional woman director.
This authorization will allow the subsidiary to provide escrow solutions, facilitate international money transfers, and onboard merchants through the GIFT City framework.
As part of this Rs 800 crore 'related-party transaction' deal, Infibeam is also increasing its stake in Rediff to 82.7%.
The funds will help bolster its financial position and allow it to invest in crucial growth sectors, including artificial intelligence products.
The payment aggregator's Q4 FY25 revenue from operations increased year-over-year to Rs 1,160 crore, from Rs 716 crore in Q4FY24.
Infibeam Avenues’s AI business unit Phronetic.AI and IISc will develop anti-deepfake technology specifically tailored for real-time video communication.
The restructuring involves transferring the mirror shareholding in Avenues World FZ-LLC to Infibeam Avenues ME SPV Ltd, a newly formed entity in Abu Dhabi.
This license from NPCI enables RediffPay to offer Unified Payments Interface (UPI) services to its users.
Payment business accounted for 94% of its total revenues which stood at Rs 1,010 crore; whereas the e-commerce platform business' contributed Rs 60.3 crore.
The company's net profit after tax rose to Rs 47.47 crore, up 16.7% from Rs 40.69 crore earned in Q2 FY24.
