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.
