Infibeam Avenues Ltd's shares increased by 6.51 per cent after the company invested Rs 25 crore to acquire a 49 per cent equity stake in Pirimid Fintech. This strategic move is in response to the growing demand for advanced AI-powered software in global capital markets.  

Pirimid Fintech, known for its expertise in capital markets technology and digital lending, will enhance its offerings by leveraging Infibeam Avenues' technological foundation.  

The collaboration aims to streamline trading processes and create innovative digital lending solutions for a better customer experience and risk management. Infibeam Avenues Ltd expects increased revenue from payment processing, capitalizing on the synergy between digital payments and capital market tech products. 

“This move is in direct response to the surging demand in the thriving global capital markets for cutting-edge secured and zero latency AI-backed software to streamline trading, research, and investment processes,” the company said in a release. 

“Pirimid has built a robust product for capital markets stakeholders and this strategic investment opens up a compelling growth opportunity to capitalise on our existing digital payments and platform solutions, by creating a synergy with the capital market tech products,” said Infibeam’s managing director and chairman Vishal Mehta. 

Infibeam, established in 2007, is a publicly listed company providing digital payment solutions and enterprise software platforms to various industries and governments. In the latest financial results for the September quarter of FY24, the company experienced a significant 191 per cent increase in profit after tax, reaching Rs 38.3 Crore compared to Rs 13.2 Crore in the same quarter last year.

Additionally, the operating income showed a substantial 66 per cent year-on-year growth, reaching nearly Rs 790 Crore.