Bajaj Finance Ltd.

Bajaj Finance is planning to acquire 12.60% stake in mobile wallet company Mobikwik as against 10.83% stated earlier due to a change in conversion price of the compulsory convertible cumulative preference shares. There is no further investment made by the company that what has been made earlier.

Under the agreement, Bajaj Finance will acquire 10 equity shares and 271,050 compulsory convertible preference cumulative preference shares (CCCPS) of Mobikwik.

In August last year, Bajaj Finance had entered into a subscription agreement with One MobiKwik Systems to acquire 10.83% stake for about Rs 225 crore.

Bajaj Finance, the lending and investment arm of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 19 million customers across the country.