Niyogin Fintech rises on completing acquisition of 51% stake in iServeU

21 Dec 2020 Evaluate

Niyogin Fintech is currently trading at Rs. 63.75, up by 0.50 points or 0.79% from its previous closing of Rs. 63.25 on the BSE.

The scrip opened at Rs. 62.00 and has touched a high and low of Rs. 65.00 and Rs. 60.95 respectively. So far 9975 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 78.60 on 12-Oct-2020 and a 52 week low of Rs. 21.80 on 12-May-2020.

Last one week high and low of the scrip stood at Rs. 66.45 and Rs. 60.95 respectively. The current market cap of the company is Rs. 584.36 crore.

The promoters holding in the company stood at 40.75%, while Institutions and Non-Institutions held 19.48% and 39.77% respectively.

Niyogin Fintech has completed acquisition of 51% stake in iServeU for Rs 592 million ($8million) in a cash plus stock deal in August 2020. The acquisition is now closed. iServeU leverages the full capability of digital platforms and public payments infrastructure to reach the under banked with a focus on rural India. The company enables small village merchants to serve local communities and drive financial inclusion through iServeU's digital platform. The financial inclusion market opportunity remains extremely large in India and we are excited to work jointly with iServeU to address this.

Niyogin is India’s pure publicly listed fintech startup with an end-to-end digital platform empowering small business, starting with their financial needs and building a broader ecosystem meeting their non-financial requirements as well.

Niyogin Fintech Share Price

72.33 -0.56 (-0.77%)
10-Jun-2024 16:01 View Price Chart
Peers
Company Name CMP
Bajaj Finserv 1565.05
Paul Merchants 900.00
Data Infrastructure 148.00
IIFL Finance 488.05
Embassy Office Parks 354.90
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