India's Infibeam surges on getting perpetual license for billing business

Avenuesai

26/12/2022 04:47

** Shares of fintech co Infibeam Avenues Ltd  IFIB.NS  up as
much as 9.22% at 16 rupees
    ** Co late on Friday said it got perpetual license from the
Reserve Bank of India for its bill payments business,
BillAvenue, for operating as a Bharat Bill Payment operating
unit under Bharat Bill Payment Systems (BBPS) 
    ** BBPS, conceptualized by the RBI, is a payment platform
that allows users to pay recurring bills including those of
electricity and gas
    ** IFIB last up ~8.19%, on pace to snap a five-session
losing run and for its biggest intraday jump since Oct. 28
    ** About 5.1 million shares change hands, as of 9:36 a.m.
IST, vs 30-day average of 9.8 million shares
    ** Up to last close, shares down ~27% this year
 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com;))