Bajaj Finance to acquire up to 40% stake in Snapwork Tech for Rs 93 crore

28 Nov 2022 , 11:34 AM

Bajaj Finance Limited has informed that the Company has entered into a Securities Subscription Agreement, Shareholders’ Agreement and Share Purchase Agreement on November 25, 2022 to acquire up to 40% stake (fully diluted basis) in Snapwork Technologies Private Limited by way of primary and secondary transactions for up to Rs93 crore.

As per the regulatory filing, Snapwork is engaged in the business of developing, consulting, providing, exporting, importing, marketing, dealing in and implementation of software technology and allied products for its clients and conducting research and development for the same.

The acquisition is proposed with the intention to strengthen the Company’s technology roadmap, the company said.

At around 11:38 AM, Bajaj Finance Ltd is currently trading at Rs6,792.55 per share up by Rs46.15 or 0.68% from its previous closing of Rs6,746.40 per share on the BSE.

For feedback and suggestions, write to us at [e-mail]