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Findi ( (AU:FND) ) has issued an update.
Findi Limited has secured A$25 million in an institutional placement to sophisticated and institutional investors at A$0.70 per share, with the funds earmarked to refinance the balance sheet of Transaction Solutions International India and materially cut gross debt and interest costs. The deal enables Findi to abandon a previously proposed Nova transaction, increase its ownership of TSI to about 91%, unlock roughly A$33.25 million of restricted cash, and accelerate ATM rollout programs, BankIT transaction growth and preparations for a targeted Indian IPO, thereby strengthening its capital structure and growth trajectory in the Indian digital payments market.
The most recent analyst rating on (AU:FND) stock is a Sell with a A$0.66 price target. To see the full list of analyst forecasts on Findi stock, see the AU:FND Stock Forecast page.
More about Findi
Findi Limited is an ASX-listed digital payments and financial services provider focused on the rapidly expanding Indian market. Its primary businesses include BankIT services, deployment and operation of SBI, CBI and UBI-branded brown label and white label ATMs, and related transaction platforms targeting increased market share in India’s digital payments ecosystem.
YTD Price Performance: -51.07%
Average Trading Volume: 434,392
Technical Sentiment Signal: Sell
Current Market Cap: A$51.39M
See more data about FND stock on TipRanks’ Stock Analysis page.