Target Entity: Synergistic Financial Networks Private Limited (SFNPL)
Type of Deal: Rights Issue subscription in wholly-owned subsidiary
Stake/Capacity: 49,869 equity shares acquired. No change in shareholding percentage - remains 100% wholly-owned subsidiary.
Deal Value: ₹24,99,93,297 (Indian Rupees Twenty Four Crores Ninety Nine Lakhs Ninety Three Thousand Two Hundred and Ninety Seven only)
Funding Source: Cash consideration
Financial Impact:
- SFNPL's paid-up capital post-infusion: ₹3,18,15,790
- SFNPL turnover as of March 31, 2026: ₹1,89,74,69,654
- Historical turnover:
- Mar 2024: ₹196.77 crore (1,967.7 million)
- Mar 2025: ₹198.39 crore (1,983.9 million)
- Mar 2026: ₹189.75 crore (1,897.5 million)
Timeline: Transaction completed on June 29, 2026
Strategic Rationale:
- To meet certain working capital needs of SFNPL
- Pursuit of further growth opportunities by SFNPL
- To invest further in step-down subsidiaries
- SFNPL will continue to remain a wholly-owned subsidiary
Approval Status: Completed transaction, no governmental or regulatory approvals required
Company Background:
SFNPL was incorporated under the Companies Act, 1956 on March 12, 2008 as a Private Limited Company. The company operates in the Financial Technology industry, facilitating financial transactions through systems infrastructure including payment processing, providing end-to-end technology integrated solutions, and selling transaction-related infrastructure. SFNPL has presence in India.