Bajaj Finance to hold 10.83% equity in MobiKwik
Post conversion of CCPS, the company would hold approximately 10.83% of equity in MobiKwik on a fully diluted basis. The value of the transaction envisaged is approximately Rs 225 crores and the conclusion of the transaction is subject to fulfilment of certain conditions in due course. Indicative time period for completion of this acquisition is 30 days.
The company has also entered into a shareholder’s agreement which would become effective on conclusion of the above investment transaction.
One MobiKwik Systems is an unlisted private company which had a turnover of Rs 38.07 crore in 2015-16. The company currently operates as a semi-closed wallet providing mobile, DTH and internet re-charge, payment utility bills, payments for purchase of goods or services from specific on-line and off-line merchants, payment gateway.
Bajaj Finance Ltd ended at Rs 1706.25, down by Rs 8.15 or 0.48% from its previous closing of Rs 1714.4 on the BSE.
The scrip opened at Rs 1724.5 and touched a high and low of Rs 1724.95 and Rs 1690 respectively. A total of 196060(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 93824.97 crore.
The BSE group ‘A’ stock of face value Rs 2 touched a 52 week high of Rs 1740.5 on 27-Jul-2017 and a 52 week low of Rs 762.3 on 23-Dec-2016. Last one week high and low of the scrip stood at Rs 1740.5 and Rs 1665.55 respectively.
The promoters holding in the company stood at 57.94 % while Institutions and Non-Institutions held 24.52 % and 17.13 % respectively.