Infibeam Avenues Limited (BSE:539807) is in talks with Bernstein Equity Partners, LLC for selling a substantial stake in the company, two people aware of the development said. Prior to the investment, Infibeam would look to split the company into two verticals-a fintech payment gateway and a fintech platform-one of these people said. "Both the companies would remain listed. The PE investor could look to invest in the payment gateway vertical. "The company is also looking to rope in strategic investors for the other vertical. Infibeam has also initiated conversations with a multinational ecommerce player and a large Indian conglomerate for selling equity in its platform business, another person aware of the development said."These talks with the strategic investors are merely exploratory talks at this point in time. The next round should happen once the company announces the split and investors get a clear visibility," said one of the persons. An email query sent to Infibeam and Bernstein Equity Partners remains unanswered. ET could not confirm the exact money the PE firm is looking to invest in the Gujarat-based company.