For acquisition of 10.83% stake in One MobiKwik Systems
Bajaj Finance announced that the Company has entered into a Subscription Agreement with One MobiKwik Systems ('MobiKwik') for acquisition of 10 Equity shares and 271,050 compulsory convertible preference shares (CCPS).Post conversion of CCPS, the Company would hold approximately 10.83% of equity in MobiKwik on a fully diluted basis. The value of the transaction envisaged is approximately Rs. 225 crore and the conclusion of the transaction is subject to fulfillment of certain conditions in due course. The Company has also entered into a Shareholders Agreement which would become effective on conclusion of the above investment transaction.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
