Rediff Eyes $100 Million IPO to Boost Enterprise Services
Rediff is considering raising up to $100 million through an IPO or other financial options to enhance its enterprise email, productivity suite, and digital payment services. Majority owned by Infibeam Avenues Ltd, Rediff's board is exploring an IPO as the likely choice for fundraising.
- Country:
- India
Internet company Rediff is contemplating a significant fundraising venture, eyeing an initial public offering (IPO) to gather up to USD 100 million, equivalent to around Rs 875 crore. The funds are intended to bolster its enterprise-grade email, business productivity, and digital payment ventures, as per informed sources.
Rediff, which falls under the majority ownership of financial technology firm Infibeam Avenues Ltd, is also evaluating other financial avenues like private placements or equity participation. Sources close to the matter indicate that these steps aim to expedite growth in its targeted tech sectors.
With Rediff's board assessing various options, they are likely to finalize decisions in the coming weeks. While discussions about the specifics remain under wraps, the company intends to enhance services like the AI-powered RediffOne productivity suite and RediffPay, entering competition with global giants.
(With inputs from agencies.)
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