Published On : Thu, Jun 18th, 2020

Astute investor Nagpur’s Ravi Agrawal raises additional stake in Infibeam Avenues

ravi agarwal

Nagpur: After acquiring an initial stake of 5.65% in Infibeam Avenues, Astute Investor Ravi Agrawal along with his family members has raised an additional stake in Infibeam Avenues bringing it to total of 7.11% in the company.

Ravi Agrawal, along with persons acting in concert (Suraj Agrawal and others) have acquired additional equity shares resulting to acquisition of Total 4,71,73,974 Equity Shares of the company on June 18 June 2020, Infibeam said in a BSE filing. As a result, their shareholding in digital payment and e-commerce technology Platform Company has increased from 5.65% to 7.11%.

Ravi Agrawal Chairman L7 Group and owner of Chattarpur Farm, the biggest wedding resort in India has a deep interest in technology sector and has been very bullish about e-commerce and digital payment segments. He says that this global pandemic has made technology an immersive part of our daily lives and e-commerce and digital payments will further thrive due to social distancing. Besides technology sector, Ravi Agrawal also invests in hospitality, manufacturing and agri-tech.

Infibeam Avenues is an Indian internet and e-commerce conglomerate involved in digital payments, online retailing and other internet services and having been leaders in fin-tech. Just last week, they signed a binding agreement for 100 percent acquisition of a corporate card payment Cardpay Technologies.