Infibeam Avenues announces 1:1 bonus issue

E-commerce and digital payments player, Infibeam Avenues Limited on Thursday announced bonus issue of one share for every one equity share held by the company’s shareholders. The board of directors at its meeting held in GIFT-City Gandhinagar, approved the bonus issue.

As per the company, pre-bonus issue paid up equity share capital of the company will increase from the current ₹66,55,26,790 consisting of 66,55,26,790 equity shares of ₹1 each, to post-bonus paid up equity share capital shall be ₹133,10,53,580 consisting of 133,10,53,580 equity shares of ₹1 each. Bonus issue is subject to shareholders’ approval, it added.

Infibeam Avenues posted standalone net profit of ₹13.4 crore for the quarter ended December 31, 2020, as against ₹11.24 crore in the same quarter 2019, up by 19 per cent on year. Standalone income from operations was ₹197 crore for the quarter as against ₹142 crore in the same period last year.

On consolidated basis, company posted net profit of ₹16 crore for the quarter as against ₹26 crore in the same period last year, down 38% on year. Consolidated revenues from operations stood at ₹228 crore for the quarter as against ₹155 crore in the corresponding quarter last year.

Infibeam Avenues shares gained nearly 10 per cent on stock exchanges to close at 91.20 on Thursday.