One MobiKwik Systems (NSE:MOBIKWIK, BOM:544305) has agreed to acquire an additional 3.39% stake in financial technology company Blostem Fintech for 15 million Indian rupees, according to a Friday filing to the Indian stock exchanges.
This is the second tranche, under the shareholders' agreement signed by the company in March 2024, wherein the company agreed to invest 30 million rupees in Blostem in two tranches.
The first tranche of 15 million was paid in March 2024.
On completion of the acquisition, the company's shareholding in Blostem is estimated to increase to 6.79% on a fully converted and diluted basis.
Shares of the company were down nearly 3% in recent trade.
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