Cholamandalam Investment and Finance Company Limited - Acquisition

10 Feb 2022 , 12:00 AM

Cholamandalam Investment and Finance Company Limited has informed the Exchange about Acquisition – We refer to our letter dated 17th January, 2022 regarding intimation of the execution of the Shareholders Agreement and a Share Purchase Agreement with Payswiff Technologies Private Limited (Payswiff), its founders and other existing shareholders for a proposed investment in the equity shares of Payswiff up to a sum not exceeding Rs.450 crores in one or more tranches. In this regard, we wish to inform you that the Company has completed the acquisition of Payswiff on 8th February 2022 by purchasing 25,20,602 equity shares at a price of Rs.1622.66 per share from founders and existing shareholders. Consequent to this acquisition, Payswiff has become a subsidiary of the Company with the aggregate holding of the Company in Payswiff constituting 71.94% with effect from 8th February, 2022. Kindly take the above information on record.