Pine Labs has invested Rs 128.99 crore in 2,57,330 equity shares of Synergistic Financial Networks (SFNPL), a wholly owned subsidiary of the company by way of subscription to rights issue.
The purpose of the investment is to meet certain working capital needs and pursuit of further growth opportunities by SFNPL and to invest further in the step-down subsidiaries. On completion of the said transaction, SFNPL will continue to remain a wholly owned subsidiary of the Company.
Pine Labs offers a merchant platform that includes technology and financial solutions for merchants. The company also leverages technology and domain expertise for merchants of all sizes helping them to thrive in the changing global marketplace.
