Infibeam Avenues Limited at its Meeting held on February 24, 2024, considered and approved to incorporate a Wholly Owned Subsidiary in IFSC, GIFT CITY, Gandhinagar within the jurisdiction of Development Commissioner KASEZ-SEZ. The Proposed Company would be in the business of payment services as Payment Service Provider (PSP) pursuant to the provisions of Special Economic Zone Act, 2005 and Rules made there under and in accordance with IFSCA ACT, 2019 and IFSCA (Payment Services) Regulations, 2024 and related rules and regulations. The wholly owned subsidiary Company once incorporated will be a related party of the Company.

However, the Promoters/Promoter group/group companies do not have any interest.