Pine Labs Ltd receives RBI nod for acquisition of 100% stake in Agya Technologies

The Reserve Bank of India ("RBI") has provided its approval for acquiring a 100% stake in Agya Technologies by BrokenTusk Technologies Private Limited ("Setu", a wholly owned subsidiary of Pine Labs Limited ("Company")). Agya Technologies also holds an authorisation from the RBI to operate as a Non-Banking Financial Company - Account Aggregator ("NBFC-AA").

Having received the requisite approval from the RBI, Setu intends to complete the acquisition of a 100% stake in Agya Technologies in near future in one or more tranches.

Shares of Pine Labs Limited was last trading in BSE at Rs. 240.65 as compared to the previous close of Rs. 236.65. The total number of shares traded during the day was 65034 in over 1361 trades.

The stock hit an intraday high of Rs. 242.30 and intraday low of 237.90. The net turnover during the day was Rs. 15628981.00.

Source : Equity Bulls

Keywords

PineLabs INE15B701018 Fintech RBI Approval StakeAcquisition AgyaTechnologies BrokenTuskTechnologies