Cholamandalam Investment and Finance Company Limited - Updates

18 Jan 2022 , 12:00 AM

Cholamandalam Investment and Finance Company Limited has informed the Exchange regarding We wish to inform you that the Company is proposing to make a strategic investment in the equity shares of Payswiff Technologies Private Limited (Payswiff) up to a sum not exceeding Rs.450 crores in one or more tranches. In this regard, the Company has signed a Shareholders Agreement and a Share Purchase Agreement on 17th January, 2022 with Payswiff, its founders and other existing shareholders. The total investment will result in the Company holding up to 72.12% of the equity capital of Payswiff on a fully diluted basis and Payswiff consequently will become a subsidiary of the Company. Payswiff is engaged in the business of enabling online payment gateway services for e-commerce businesses and provides e-commerce solutions. Payswiff is an omni channel payment transaction solution that lets business owners accept payments from their customers in-store, at home deliveries, online, and on-the-go using mPOS and POS solutions. The disclosure as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is enclosed as an annexure. Kindly take the above information on record. .