Infibeam Avenues surged to a 52-week high of Rs 24.24 on BSE after acquiring a 49% stake in Pirimid Fintech, trading at Rs 24.08, marking a 7.45% increase from its previous close of Rs 22.41 on Thursday.
The strategic move by Infibeam Avenues delves into the capital markets and digital lending software realm with a Rs 25 crore deal, securing a substantial equity share in Pirimid Fintech. According to Infibeam Avenues, “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.”
Pirimid Fintech specializes in tailoring capital markets and digital lending products, tools, services, and workflows to cater to specific client requirements. Noteworthy clients of Pirimid Fintech include BidFX, a subsidiary of the Singapore Exchange (SGX), along with institutions like Bank of Baroda and Indian fintech player Lendingkart.
Infibeam Avenues’ entry into this arena aims to address the rising demand for advanced AI-driven software in global capital markets, focusing on enhancing trading, research, and investment procedures. The acquisition of Pirimid Fintech aligns with their strategy to offer cutting-edge solutions tailored to meet evolving market needs.