Findi (ASX:FND) completed a 25-site pilot program for its co-branded 'BC Max' centers with the Central Bank of India, and the Indian lender and Findi began a national rollout of the centers, according to a Wednesday Australian bourse filing.
Both parties plan to establish a further 500 such centers across India over the next two years, and they will begin the rollout at 76 additional locations.
The rollout of the additional 76 centers is expected to generate total minimum guaranteed revenue of around AU$3.1 million and earnings before interest, taxes, depreciation, and amortization of AU$1.5 million over three years. The program is forecast to have a payback period of 2.85 years.
Findi's shares fell 4% on market close.
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