AvenuesAI, previously known as Infibeam Ventures, has announced that its subsidiary Rediff has pre-filed its IPO documents with the Securities and Exchange Board of India (SEBI).
According to AvenuesAI's statement, "Rediff.com India Limited has submitted the pre-filed Draft Red Herring Prospectus (DRHP) to SEBI, as well as to the BSE and NSE for its proposed IPO of equity shares on their main boards. However, this filing does not guarantee that Rediff will proceed with the IPO."
Media reports suggest that the anticipated size of the IPO could range from ₹600 to ₹800 crore.
Founded in 1995 by Ajit Balakrishnan, Rediff is based in Mumbai and started as a news media platform. Over the years, it has diversified into various digital services, including:
- Rediffmail (enterprise email)
- RediffPay (digital payments)
- RediffOne (enterprise business suite)
In August 2024, AvenuesAI acquired a majority stake of 54.1% in Rediff for approximately ₹50 crore, marking its entry into consumer-facing businesses. Following this acquisition, Vishal Mehta, the founder of Infibeam, was appointed as the chairman and managing director of Rediff in October 2024.
Last year, Rediff obtained a third-party app provider (TPAP) license from the National Payments Corporation of India (NPCI). In August 2025, Infibeam approved the transfer of its e-commerce platform to Rediff for a valuation of ₹800.39 crore, subsequently increasing its stake in Rediff to 80%.
AvenuesAI is also focusing on expanding its digital payment gateway, CCAvenue, and its AI services through Phronetic.ai. The company is currently raising ₹700 crore via a rights issue to invest in the development of a global marketplace for AI agents.
Additionally, AvenuesAI has invested ₹87.7 crore in Rediff to enhance its digital and payments ecosystem.
Financially, AvenuesAI reported a consolidated net profit of ₹79.8 crore for Q3 FY26, marking a 24% year-over-year increase and an 18% quarter-over-quarter rise. Operating revenue surged by 122% year-over-year and 21% quarter-over-quarter, reaching ₹2,381.1 crore.
In today's trading session, AvenuesAI's shares rose over 7%, closing at ₹14.31 on the BSE.
