Robust participation highlights investor confidence in the Company’s AI-led strategy and digital payments growth 

Bengaluru, July 15, 2025 – Infibeam Avenues Ltd. (BSE: 539807 | NSE: INFIBEAM), an AI-driven fintech leader, is pleased to announce the successful closure of its INR 700 crore Rights Issue on July 11, 2025. The issue was 1.40 times oversubscribed, reflecting the trust and confidence that shareholders continue to place in the Company’s long-term vision and strategy.

Structured as a 67:267 Rights Issue at INR 10 per share (including a premium of INR 9 per share), the offering allowed eligible equity shareholders to subscribe to approximately four equity shares for every one share held as of the record date. The strong and broad-based participation—from promoters, institutional investors, high-net-worth individuals, and retail investors alike—underscores the Company’s resilient fundamentals and its growing role in the AI and digital payments landscape.

The Rights Issue Committee of the Company, in its meeting held on July 15, 2025, approved the allotment of 69,99,85,723 partly paid-up equity shares at INR 10 per share (including INR 9 as share premium). INR 5 per share (including INR 4.50 premium) has been received on application, with the balance payable on the Final Call as decided by the Board/Committee, at its sole discretion, from time to time.

Commenting on the outcome, Mr. Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd., said: “We are sincerely grateful for the overwhelming support and confidence shown by our shareholders. Their belief in our strategic vision motivates us to continue building innovative, AI-powered platforms and solutions for India and beyond. The funds raised will further strengthen our balance sheet and enable us to invest in key growth areas, including AI-driven products, digital payment solutions, and selective acquisitions aligned with our vision.”

The Company plans to deploy the net proceeds from the Rights Issue toward:

·         Investments in Phronetic.AI, its advanced Agentic AI and Video Intelligence business unit;

·         Expanding RediffPay to support UPI and broader digital financial services;

·         Developing RediffOne, an enterprise-grade AI, payments, and e-commerce platform;

·         Pursuing strategic acquisitions that complement its AI-led marketplace strategy;

·         Establishing a distributed network of data center capacity for edge compute across India.

Over the past two fiscal years, Infibeam Avenues has focused on disciplined expansion into high-growth, scalable verticals. The successful completion of the Rights Issue reinforces the Company’s commitment to long-term value creation, innovation, and prudent financial management.

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As deepfake technology continues to evolve, it poses significant risks to personal and corporate integrity. These sophisticated AI-generated media can create hyper-realistic but false representations of individuals and events, leading to misinformation, cyberbullying, harassment, financial fraud, and identity theft. Such threats have far-reaching implications for businesses, government institutions, and the general public.

A notable incident highlighting the urgency of this issue occurred in January 2024, when a Hong Kong-based multinational company lost approximately $25 million (around Rs 207 crore) due to a deepfake scam. Scammers executed a convincing live video call using deepfake technology to impersonate company executives, leading to a severe financial loss before the deception was uncovered. (Source: South China Morning Post and Business Insider).

“Digital communications and a digital India will thrive only as long as there is trust,” said Mr. Rajesh Kumar SA, CEO of Phronetic.AI, an AI unit of Infibeam Avenues Ltd. “This partnership is a pivotal step in restoring trust in digital communications. Together, we will equip users with the necessary tools to differentiate between truth and fabrication in an increasingly complex digital landscape, thereby mitigating fraud risks and enhancing digital trust.”

Under the terms of the Memorandum of Understanding (MoU), Infibeam Avenues Ltd’s AI business unit, Phronetic.AI, and the IISc team will collaboratively develop anti-deepfake technology specifically tailored for real-time video communication. The partnership will focus on selecting the most effective detection models for various scenarios, ensuring that real-time deepfake detection operates efficiently and cost-effectively at scale.

“We are committed to staying ahead of malicious actors by developing innovative AI solutions that ensure digital authenticity,” said Mr. Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd. “This partnership is a crucial step toward enhancing cybersecurity and preventing the misuse of deepfake technology for fraudulent activities.”

Despite the availability of various deepfake detection tools in the market, only a limited number possess the capability for real-time operation. In a pioneering effort, Infibeam’s Phronetic.AI team has developed an advanced video AI agent that can detect deepfakes in real-time through a novel interventional technique. This agent actively engages in live video conversations, alerting users when the other participant is identified as a deepfake. Infibeam has already filed a patent for its innovative real-time deepfake detection algorithm.

Recognizing the increasing sophistication of deepfakes and the necessity for detection algorithms to evolve continuously to address this growing threat, the company has collaborated with Vision and AI Lab (VAL) of the Indian Institute of Science (IISc), where it aims to improve these algorithms further, ensuring robust defenses against the challenges posed by increasingly realistic deepfake technology.

“As Generative AI continues to advance at an unprecedented pace, the rise of deepfakes poses a significant challenge. Without proactive measures, the spread of AI-generated misinformation could become a major concern. Addressing this requires ongoing efforts from AI researchers to monitor emerging generative models and develop robust techniques to detect deepfakes effectively.” said Prof. Venkatesh Babu, Professor and Chair of the Dept. of Computational and Data Sciences (CDS) IISc.

Additionally, the research will prioritize the development of a user-friendly interface, enabling easy access for non-experts to verify the authenticity of live visuals and audio. This scalable detection system will be adaptable across various sectors, including banking, healthcare, insurance, finance, fintech, HR recruitment, government organizations, police, armed forces, and personal communications, addressing the diverse needs of industries particularly vulnerable to deepfake technology.

This research initiative aims to offer Real-Time Deepfake detection AI Agent that enhances public confidence and protect the reputations of its users whether it’s a government institutions, organizations, or a corporations.

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Mr. Amresh Acharya, MD & CEO, Loylty Rewardz and Mr. Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd, signed the agreement on the side-lines of The Global Fintech Fest (GFF) 2024, Mumbai. GFF is the world’s biggest fintech conference, renowned for its transformative thought leadership and exciting product launches.

“We at CCAvenue staunchly believe in providing our business partners with the latest fintech innovations along with new age payment methods that drive revenue,” said Mr. T. Nandakumar Menon, Sr. Vice President – Alliances and Operations, Infibeam Avenues Ltd. “Our win-win partnership with Loylty Rewardz will enable consumers to easily access and utilize their reward points while shopping on innumerable merchant websites powered by CCAvenue payment gateway. This collaboration will boost customer retention considerably for our partner brands, thereby fuelling growth of their online businesses.”

Loylty Rewardz is an Indian customer engagement company delivering end-to-end loyalty solutions. Through its module called Rewardz Hub, customers of over 20 bank and retail loyalty programs managed by Loylty Rewardz can seamlessly redeem their reward points on online payments powered by CCAvenue. The loyalty programme market in India is expected to touch USD 5.37 billion in 2024 and USD 8 billion by 2028. It may almost double by 2033 touching USD 14.5 billion.

“With rising consumption and income levels of consumers, the loyalty industry in India is poised for accelerated growth,” said Amresh Acharya, Loylty Rewardz, adding that the growing spending power of the Indian consumer is prompting many global and domestic brands to chase a larger share of India’s market, thus expanding loyalty and engagement solutions in the market.

Commenting on this partnership, Mr. Amresh Acharya stated: “At Loylty Rewardz, we are dedicated to innovation in consumer engagement. Our alliance with CCAvenue, a leading payment aggregator will enhance customers’ shopping experience through intuitive and seamless reward point redemption in sync with secure and efficient payment processing.”

With Rewardz Hub integrated into the checkout page on CCAvenue-powered merchant websites, millions of consumers in India can make payments by fully or partially redeeming reward points they have earned on their debit or credit cards.

Through this collaboration, 5000 CCAvenue-powered merchants will be able to reach 500mn unique customers with reward points worth overall INR 20bn accrued through Loylty Rewardz’s retail and banking loyalty programs. Customers stand to enjoy greater convenience, affordability and a superior shopping experience across these online merchants.

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The partnership offers a flexible payment option to millions of consumers across India, while completing payments on innumerable merchant websites powered by CCAvenue payment gateway.

Buy Now, Pay Later (BNPL), a modern financing solution, is transforming how Indian consumers pay for online purchases. It provides ready credit, allowing shoppers to buy expensive items and achieve their aspirations. BNPL’s rapid growth in India is due to its simplicity and digital accessibility over traditional manual credit options.

Mr. Pallav Jain, Co-founder & CEO of ShopSe India and Mr. Vishwas Patel, Joint Managing Director of Infibeam Avenues Ltd, inked the agreement on the side-lines of The Global Fintech Fest (GFF) 2024, Mumbai. GFF has evolved to become the world’s largest fintech conference, reputed for its thought leadership and product launches.

“By teaming up with end-to-end affordability platform ShopSe India, CCAvenue will be able to tap into an increasingly popular payment option for the benefit of its mammoth merchant base,” commented Mr. T. Nandakumar Menon, Sr. Vice President – Alliances and Operations, Infibeam Avenues Ltd. “Our merchants will soon be able to reach out to a larger universe of consumers, comprising millions of ShopSe’s users in order to drive revenue considerably. They can provide their customers the convenience of a swift and seamless checkout along with the flexibility of easy repayment at a later date.”

Pallav Jain of ShopSe India, stated, “ShopSe is dedicated to providing a frictionless end-to-end digital affordability option to millions of consumers across the country when shopping on lakhs of business websites in India. Our strategic alliance with CCAvenue will help consolidate our digital finance platform, empowering our customers with an affordable, user-friendly means of payment for high value products.”

With a comprehensive network comprising 50,000 plus merchants across India, 200 plus brands serviced and 15 plus major banks/NBFCs, ShopSe India is an instant no-cost EMI or pay-later service (BNPL) player, which specialises in providing a common digital marketplace to lenders, retailers and customers making purchases online or at stores. The new age fintech is revolutionizing ‘Point of Purchase’ lending by bringing together the needs of the consumers and the lenders at the time of purchase, enabling the retailer to close the sale immediately.

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Ms. Noopur Chaturvedi, CEO, NPCI Bharat BillPay Limited (NBBL) said, “We are excited to have BillAvenue as a certified TSP partner for Bharat Connect ecosystem.  BillAvenue has had a very long and successful relationship with NPCI Bharat Bill Pay Ltd., and we are confident that this certification will enable them to leverage their experience for the benefit of newer partners.  We look forward to them playing an instrumental role in fostering the growth of ecosystem”.

Mr. Daykin Creado, CEO of BillAvenue, expressed his enthusiasm for this achievement, said, “Securing the official NBBL TSP certification for both COU and BOU is a testament to the robustness and enterprise-grade quality of our technology stack. This is a pivotal moment for us, and we believe it will propel BillAvenue to the forefront of the BBPS (now known as Bharat Connect) ecosystem. As a neutral facilitator, we are uniquely positioned to attract major billers and customer-facing apps to partner with us. With confidence in our capabilities, we are poised to reach new heights and sustain our upward growth trajectory.”

BillAvenue is now an NBBL certified Technology Service Provider (TSP) Partner for both Biller Operating Unit (BOU) and Customer Operating Unit (COU). This allows BillAvenue to help banks, Small finance Banks (SFBs) and other certified fintech players become a part of the Bharat Bill Payment System (BBPS) (now known as Bharat Connect) ecosystem by providing the technology stack to these entities for quicker go live. BillAvenue can offer these entities on prem deployed solutions under a CapEx model as well as cloud based solutions on an OpEx model. Additionally NBBL TSP certification accelerates the go to market time for OU license holders, lowering operational costs and opening new business opportunities for BillAvenue.

“Infibeam Avenues Limited is proud to be the only non-bank entity granted a perpetual Operating Unit (OU) license by the RBI. Coupled with our superior technological capabilities and extensive experience in the BBPS ecosystem, we are the partner of choice for any bank or non-bank Operating Unit License holder looking to offer the convenience of BBPS to their customers. With NBBL’s continuous innovation and upcoming use cases like NetBanking and B2B payments, we anticipate significant growth in the BBPS space. The NBBL TSP certification positions us perfectly to capitalize on this tremendous opportunity, and we are excited about the future,” adds Ms. Anushka Patel, COO of BillAvenue.

This will enable BillAvenue to bring onboard more participants to the BBPS ecosystem and expand the scope, reach and acceptability of BBPS as a preferred mode of bill payments. This milestone underscores BillAvenue’s commitment to innovation and excellence in India’s digital payments landscape.

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Their Vision AI Technology to Bolster CCTV Capabilities, ensuring Greater Women Safety in Public & Workplaces.

 Bengaluru, August 27, 2024 – Phronetic.AI, the Artificial Intelligence subsidiary company of India’s leading publicly listed fintech company, Infibeam Avenues Ltd (BSE: 539807) (NSE: INFIBEAM),  introduces a new ‘women safety’ feature to its ‘AI Facility Manager’ solution. This enhancement leverages its proprietary Theia vision AI technology to bolster CCTV capabilities, ensuring greater safety for women in public and workplace environments, while also driving operational efficiencies for corporates and organizations.

This new feature – ‘women safety’ has been added to the ‘AI Facility Manager’, using Human Action Recognition (HAR) that specifically designed and programmed to enhance CCTV capabilities for surveillance purposes in public and workplaces by enabling automated analysis and understanding of human actions in real-time or using recorded video footage.

In June, the company launched its first AI solution, the ‘AI Facility Manager’ and implemented it at a leading educational institute. The company is also conducting pilot projects with several potential corporate clients both in India and internationally. Initially the solution was designed for unlocking unprecedented operational efficiencies for corporate and institutional clients by empowering organizations to seamlessly integrate the activity-based management into their daily operations.

Following a recent tragic incident in Kolkata, the company has experienced a significant increase in requests from its corporate clients, where it is conducting pilot projects. These clients are seeking the addition of a ‘women safety’ feature to the AI Facility Manager solution, alongside enhancements in overall corporate operational efficiencies.

“Along with enhancing business efficiency in public and workplaces; governments, institutes or any private organisation have taken a proactive approach for enhancing women & girl safety as well.  Integrating Theia vision AI to existing CCTV cameras will help in alerting and preventing incidents to ensure a quicker response to emergencies,” said Mr. Rajesh Kumar, CEO of Phronetic.AI, the Artificial Intelligence business unit of Infibeam Avenues Ltd.

The women specific safety feature technology now added to ‘AI Facility Manager’ transforms traditional CCTV systems from passive video recording devices into an active and intelligent surveillance tool that can enhance women’s/girls’ safety in public and workplaces without requirement for any new hardware. It can also be deployed for overall safety for all individuals as it has inbuilt AI technology capable of responding to security threats.

The in-house research team has built to embed ‘women’ specific safety feature, which can recognize predefined actions and the system can automatically flag unusual or suspicious behaviour for further investigation or action. The deep learning model on which it has been built has an ability to detect and classify specific human actions from normal behaviour like walking, and sitting; to potentially dangerous or suspicious activities like fighting, loitering, trespassing, and stalking.

It has the ability to identify anomalies as well, where it can identify any kind of anomalies or deviations in normal behaviour patterns. For instance, if someone runs in a typically calm area or if someone falls, the system will detect these anomalies and alert the security personnel immediately.

“AI Facility Manager with inbuilt ‘women safety’ feature is cost-effective as it can easily integrate into the existing CCTV infrastructure and can be scaled to monitor multiple cameras across multiple locations, providing a unified platform for surveillance and thereby reducing dependence on manpower for monitoring purposes. This scalability and cost-effectiveness makes the solutions budget-friendly for organisations and ideal for creating a safe environment in public and workplaces,” added Mr Rajesh Kumar, CEO of Phronetic.AI.

Phronetic.AI has designed the software in such a manner that it can analyse patterns of behaviour over time and such behavioural insights will help the users to optimize security measures and allocate resources more effectively. It can also be programmed to focus only on specific actions or tasks or areas.

In case of an incident, it can provide detailed reports within a few hours thus providing valuable evidence for any post-incident analysis or legal proceedings. The action logs can be used for forensic analysis, helping investigators understand the sequences of events and identify any perpetrators.

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