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08 August, 2020 02:52 IST
Bajaj Finance to acquire 10.83% stake in MobiKwik for Rs 2.25 bn
Source: IRIS | 03 Aug, 2017, 09.53AM
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Bajaj Finance has entered into a Subscription Agreement with One MobiKwik Systems Private 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 2.25 billion 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.

In this regard, the disclosure in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure requirements) Regulations, 2015 to the extent applicable to the transaction is given in the annexure.

Shares of the company gained Rs 8.25, or 0.48%, to trade at Rs 1,714.50. The total volume of shares traded was 5,179 at the BSE (9.44 a.m., Thursday).

Bajaj Finance Limited   (Q,N,C,F)*

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