Target Entity

Fintech Cloud Private Limited

Type of Deal

Acquisition of 70% majority stake through NCLT Scheme of Amalgamation

Stake/Capacity

70% of the issued, subscribed and paid-up equity share capital of the Target Company

Deal Value

₹1,050 crore (Indian Rupees One Thousand Fifty Crores) for 70% stake, based on total equity valuation of ₹1,500 crore (Indian Rupees One Thousand Five Hundred Crores) for 100% of the Target Company

Funding Source

Consideration will be settled through issuance of up to 21 crore fully paid-up equity shares of Indiabulls Limited to the shareholder(s) holding 70% shares of the Target Company. The share issuance is subject to compliance with pricing regulations as per applicable regulations including SEBI ICDR regulations.

Financial Impact

Target company financial performance:

  • FY 2023-24: Nil turnover
  • FY 2024-25: Nil turnover
  • FY 2025-26: Gross revenue of ₹133.77 crore with PBT of ₹30.31 crore

The acquisition will enable the Company to enter the fintech segment through a business that provides technology solutions to NBFCs.

Timeline

Expected completion period: 9-12 months

Strategic Rationale

The Proposed Acquisition will enable the Company to enter the fintech segment, through a business that provides technology solutions to NBFCs. The Target Company acts as a Loan Service Provider (LSP) for various Regulated Entities (RE's) and has presence in India.

Approval Status

Board approved on September 11, 2026. Requires NCLT and SEBI/Stock Exchanges approval along with other applicable regulatory/shareholders' approvals.

Additional Details

  • The acquisition does not fall under related party transaction
  • Promoter/promoter group/group companies do not have any interest in the entity being acquired
  • Target company industry classification: Technology Solutions
  • Target company date of incorporation: January 11, 2021
  • Immediate effect: Majority of directors of the Target Company shall be appointed by Indiabulls Limited with immediate effect

Reference Regulation

SEBI Listing Regulations Regulation 30 and SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026