Infibeam Avenues Ltd (IAL) has received Expression of interest (EOI) from Royal family of Qatar, to form a Joint Venture (JV) for Qatar region, to accelerate fast growing Payment's business, together with the primary equity investment in the said JV, by them. The Board discussed the EOI and the in-principle commitment through EOI and decided to initiate steps to consummate the investment transaction, as per regulatory provisions, to grow the Payments business in Qatar region. IAL directly or through its fully owned subsidiary will own majority ownership in the JV. The Company will also benefit from the FIFA World Cup 2022 to be held in Qatar. This proposal marks company's interest in expanding and penetrating within the high growth Middle East markets; Company already present in UAE, Saudi and Oman. Shares of Infibeam Avenues Limited was last trading in BSE at Rs. 44.15 as compared to the previous close of Rs. 46.45. The total number of shares traded during the day was 2449841 in over 4378 trades. The stock hit an intraday high of Rs. 48.15 and intraday low of 43.30. The net turnover during the day was Rs. 113322630.00.

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