Infibeam Avenues Acquires Sintex Corporate House For Rs 1Bn

Infibeam Projects Management, the company's affiliate, has successfully acquired the half built Sintex Corporate House from Aavas Trust, an Aditya Birla Group unit, for about Rs 1 billion.

The recently bought structure will expand the intended GIFT city AI Hub of Infibeam Avenues Ltd. The company revealed its big ambitions to enter the Artificial Intelligence (AI) enabled fraud detection and prevention industry in the first quarter of FY24. It also planned to establish India's first AI hub at GIFT city.

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"We are focusing on cultivating a harmonious AI and tech self-sufficient and symbiotic ecosystem, one that will not only bolster Infibeam's expansion within the AI and software development sector but also nurture the emergence of independent AI and technology enterprises in India," said Mr. Vishal Mehta, the Chairman and Managing Director of Infibeam Avenues Ltd.

In addition to housing strategically invested AI and technology enterprises under one roof, the Ahmedabad campus, which will be the extension of GIFT city's AI Hub, will have its own in-house team. This will further enhance the ecosystem's creativity and synergy.

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AI and tech firms will be able to work in a collaborative ecosystem in a dedicated location within the 'AI & Tech Hub', thanks to the 'Symbiotic' framework. These businesses will be able to provide their specialised goods and services to 2 Infibeam Avenues Ltd. in order to improve its Artificial Intelligence (AI) operations thanks to this advantageous location. Simultaneously, the company will also offer a full range of support services that foster these enterprises, allowing them to grow on their own and contribute to a vibrant AI ecosystem.

About Infibeam Avenues

Infibeam Avenues Ltd. is a major global fintech company that provides digital payment solutions and enterprise software platforms to businesses and governments across industries. The company provides bank infrastructure and acquires and issues payment solutions. The main Payment Gateway (PG) business offers businesses over 200 payment alternatives for internet and mobile devices in 27 worldwide currencies.

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