Bajaj Finance Ltd to Acquire 12.6% in MobiKwik

Written By:
Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Financial services company Bajaj Finance Ltd said on Tuesday that it will acquire a 12.6% stake in mobile wallet company MobiKwik, reported PTI.

    Bajaj Finance Ltd to Acquire 12.6% in MobiKwik

    In August 2017, it had entered into an agreement with One MobiKwik Systems to acquire its 10.83% stake for around Rs 225 crore. Due to a change in the conversion price of the compulsory convertible cumulative preference shares (CCCPS), Bajaj Finance will now be acquiring 12.6% of equity instead of said 10.83% in Mobikwik on a fully diluted basis post-conversion.

    As per the agreement, Bajaj Finance will acquire 10 equity shares and 271,050 CCCPS of Mobikwik.

    Read more about: bajaj finance mobikwik
    Story first published: Wednesday, January 17, 2018, 13:41 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more