Infibeam Avenues has received approval to acquire balance 49.50% stake from the existing Shareholders of So Hum Bharat Digital Payments (So Hum). Post acquisition, So Hum would become a Wholly Owned Subsidiary of the Company.
So Hum has already applied for RBI’s New Umbrella Entity (NUE) license for retail payment systems that will enable the company to expand the scope from its current offerings of payments and platforms by Setting-up, manage and operate new payment system in the retail space. Balance 49.50% is being acquired to obtain 100% control and also to grab opportunities to obtain NUE licence in different jurisdictions in So Hum. The Board of Directors at its meeting held on January 23, 2024 has approved the same.
Infibeam Avenues is engaged in providing online retail services.
