AvenuesAI Subsidiary Rediff Pre-Files DRHP

AvenuesAI’s (formerly Infibeam Ventures) subsidiary Rediff has filed its IPO papers via the confidential route with SEBI. 

“Rediff.com India Limited, a subsidiary of AvenuesAI Ltd, has filed the pre-filed DRHP with the SEBI, the BSE and the NSE in relation to the proposed IPO of its equity shares …on the main board of the BSE and the NSE. The filing of the pre-filed DRHP shall not necessarily mean that Rediff will undertake the IPO,” Avenues AI said in an exchange filing today.

As per media reports, the size of the IPO could be in the range of ₹600-₹800 Cr. 

Founded in 1995 by Ajit Balakrishnan, Rediff is a Mumbai-based internet company that began as a news media outlet but later expanded into multiple digital streams. Currently, Rediff’s business comprises Rediffmail (enterprise email), RediffPay (digital payments) and RediffOne (enterprise business suite).

In August 2024, AvenuesAI acquired a majority 54.1% stake in the internet portal for about ₹50 Cr to foray into consumer-facing business. Shortly after the acquisition, Infibeam founder Vishal Mehta was appointed as the chairman and MD of Rediff in October 2024. 

Last year, Rediff received a third-party app provider (TPAP) licence from the NPCI. In August 2025, Infibeam approved the transfer of its ecommerce platform on a slump sale basis to Rediff for a valuation of ₹800.39 Cr. Post the deal, Infibeam increased its stake in Rediff to 80%.

Meanwhile, AvenuesAI has been doubling down on scaling its digital payment gateway, CCAvenue and its AI infrastructure services under Phronetic.ai. For this purpose, the company is in the process of raising ₹700 Cr via a rights issue to primarily invest in Phronetic AI, which is developing a global marketplace for AI agents. 

AvenuesAI also invested ₹87.7 Cr in Rediff to expand its digital and payments ecosystem.

On the financial front, AvenuesAI reported a 24% YoY and 18% QoQ jump in its consolidated net profit to ₹79.8 Cr in Q3 FY26. Operating revenue grew 122% YoY and 21% QoQ to ₹2,381.1 Cr. 

Shares of AvenuesAI ended today’s trading session over 7% higher at ₹14.31 on the BSE.

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