Bajaj Finance to acquire minority stake in Snapwork Technologies

2 Dec 2022 , 01:34 AM

Bajaj Finance has entered into a Securities Subscription Agreement Shareholders Agreement and Share Purchase Agreement on 25 November 2022 to acquire up to 40Percentage stake fully diluted basis in Snapwork Technologies by way of primary and secondary transactions The acquisition is proposed with the intention to strengthen the companys technology roadmap The company will invest up to Rs 93 crore to acquire 40Percentage stake on fully diluted basis as under 1 45098 Compulsorily Convertible Series A Preference Shares Series A CCPS of face value of Rs 10 each Primary; 2 20000 equity shares from promoters of Snapwork of face value of Rs 1 each Secondary 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