India's 1st listed e-comm site to merge CCAvenue with itself
Infibeam, the first e-commerce company in India listed with SEBI, has announced plans to merge operations with online payment gateway CCAvenue. The deal is expected to value CCAvenue at ₹2,000 crore. Founded in 2010 by former Amazon executive Vishal Mehta, Infibeam will also invest ₹150 crore for a 7.5% stake in CCAvenue, in addition to the 3.85% it currently owns.