Old WhatsApp message wipes out 71% of Infibeam's value in one day
Ahmedabad-based e-commerce company Infibeam lost 71% of its market value on Friday after an old WhatsApp message by an Equirus analyst allegedly recirculated among traders on Thursday. The message reportedly alleged that Infibeam had given interest-free loans to its units. Infibeam gave â¹135 crore of unsecured, interest-free loans to related firms as of March, according to its annual report.