Infibeam Avenues Reverses Course: To Divest 49% Stake in Pirimid Technologies

In a surprising turn of events, Infibeam Avenues Ltd (BSE: 539807, NSE: INFIBEAM) has announced plans to divest its 49% stake in Pirimid Technologies. This decision comes just months after acquiring the stake for Rs 25 crore in December 2023. The consideration from the sale is not expected to exceed 270 million rupees, potentially resulting in a significant return on investment. This strategic move marks a shift in Infibeam's approach to the capital markets and digital lending software sector. The company's shares, which had surged 7% following the initial acquisition, may see renewed investor interest in light of this development.

 

Sources: Business Standard, Moneycontrol, Economic Times