Capital India Finance Limited ("Company") has on September 20, 2019, acquired 10,000 (Ten Thousand) equity shares of Rs.10/ each aggregating to Rs. 1,00,000/- (Rupees One Lakh only) from the existing shareholders of Rapipay Fintech Holding Private Limited ("RFHPL") through share purchase agreement dated September 20, 2019. Consequent to the aforesaid acquisition, RFHPL has become wholly owned subsidiary of the Company in accordance with the provision of the Companies Act, 2013 and other applicable laws with the controlling interest of 100% in the paid-up capital of RFHPL.
RFHPL has on September 21, 2019 allotted 93,55,100 (Ninety-Three Lakhs Fifty Five Thousand One Hundred) equity shares of Rs. 10/- (Rupees Ten only) each aggregating to Rs. 9,35,51,000 (Rupees Nine Crore Thirty Five Lakhs Fifty One Thousand only), upon exercise of conversion right provided to the Company being majority holder of zero coupon optionally convertible debentures, pursuant to clause 3.21 of the Debenture Trust Deed dated March 29, 2019 read with First Amendment Deed to Debenture Trust Deed dated September 16, 2019 entered into between Vistra ITCL (India) Limited ("Debenture Trustee") and RFHPL.
RFHPL holds 52.99% controlling stake in Rapipay Fintech Private Limited, ("RFPL"). Therefore, pursuant to the above transactions, the Company will become beneficial owner of 52.99% controlling stake in RFPL. RFPL is a Digital Wallet company (having Semi Closed PPI license from Reserve Bank of India) and operates on an Assisted mode (B2B) via a franchised network of retailers (neighbourhood stores) across India, providing services to the unbanked and underserved sections of the society.
Shares of Capital India Finance Ltd was last trading in BSE at Rs.130 as compared to the previous close of Rs. 140. The total number of shares traded during the day was 525 in over 11 trades.
The stock hit an intraday high of Rs. 135 and intraday low of 130. The net turnover during the day was Rs. 70767.