Ravi Agrawal, family raise stake in Infibeam Avenues to 7.11%

Market
    Commodity trader Ravi Agrawal along with his family members raised equity stake in Infibeam Avenues to 7.11 percent on June 17, 2020.
    Agrawal, along with persons acting in concert (Suraj Agrawal and Amita Agrawal) have acquired additional equity shares of 11,25,155 in the company, taking their total shareholding in the company to 4,71,73,974 equity shares (representing 7.11 percent of the total paid-up equity capital of Infibeam) as of June 18, 2020, Infibeam said in a BSE filing.

    As a result, their shareholding in digital payment and e-commerce technology Platform Company has increased from 6.94 percent to 7.11 percent.

    Agrawal, who is based in Nagpur and heads the L7 Group, in a separate release said he was interested in technology and has been bullish about e-commerce and digital payment segments.

    “The (COVID-19) pandemic has made technology an immersive part of our daily lives and e-commerce and digital payments will further thrive due to social distancing,” he reasoned.

    Infibeam Avenues is an Indian internet and e-commerce conglomerate involved in digital payments, online retailing, e-commerce software and internet services.

    Written by Rakesh Sashmal