Findi Seeks Listing of Indian Subsidiary on Bombay Stock Exchange by Fiscal 2027-End; Shares Surge 15%
MT Newswires Live
Jan 15
Findi (ASX:FND) proposed for Transaction Solutions International (India) to be listed on the Bombay Stock Exchange by the end of fiscal 2027, according to a Thursday Australian bourse filing.
Under the Indian bourse's rules, foreign ownership is capped at 60%. Findi currently owns 86% of Transaction Solutions. Nova Global Opportunities Fund's recently announced 4.18 billion Indian rupees investment in Transaction Solutions is expected to result in Nova Global owning up to a maximum of 51% stake in the unit.
The completion of the Nova Global pre-initial public offering investment will allow Findi to accelerate its payments bank license in India, the filing said.
Findi's shares surged almost 15% in recent Thursday trade.
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