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Findi ( (AU:FND) ) has issued an announcement.
Findi’s Indian subsidiary TSI has secured a binding term sheet for a strategic investment of up to INR 418 crore (approximately A$72 million) from Nova Global Opportunities Fund PCC, subject to due diligence and execution of definitive agreements. The funds, to be invested in multiple tranches with an initial INR 150 crore, will be used to support TSI’s capital expenditure and long-term working capital requirements in its brown-label and white-label ATM operations, with Nova Global expected to take a 25–27% fully diluted stake after the first tranche. Nova Global, backed by global investment manager Zinnia Group, has positioned the investment as medium to long term and does not plan to sell into TSI’s planned Bombay Stock Exchange IPO, which brokers previously indicated could value TSI at A$750 million to A$900 million, underscoring growing institutional confidence in TSI’s growth prospects and Findi’s strategic position in India’s financial services infrastructure.
The most recent analyst rating on (AU:FND) stock is a Sell with a A$1.50 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 company that operates in the financial services and payments infrastructure sector through its Indian subsidiary, Transaction Solutions International (India) Private Limited (TSI). TSI focuses on brown-label and white-label ATM businesses in India, supporting cash access and payments infrastructure across the market, and is preparing for an IPO on the Bombay Stock Exchange targeted later this year.
Average Trading Volume: 219,767
Technical Sentiment Signal: Sell
Current Market Cap: A$101M
See more insights into FND stock on TipRanks’ Stock Analysis page.