Cholamandalam Investment and Finance Company is planning to acquire 72.12 per cent stake in fintech payment solutions provider Payswiff Technologies for Rs 450 crore. The company has signed a shareholders' agreement and Share Purchase Agreement with Payswiff, its founders and other existing shareholders. The cash deal may take place in one or more tranches at a price of Rs 1,622.66 per share.
Payswiff is an omni-channel payment transaction solution that lets business owners accept payments from their customers in-store, at home deliveries, online, and on-the-go using mPOS and POS solutions
Cholamandalam Investment and Finance Company is among the top 5 NBFC’s in the country operating in vehicle finance, home equity, corporate and mortgage finance segments with subsidiaries in the broking and wealth advisory space.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 908.70 |
| Shriram Finance | 1036.50 |
| Aditya Birla Capital | 340.20 |
| Chola Invest & Fin. | 1579.65 |
| Tata Capital | 337.60 |
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