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Satin Creditcare Network Ltd ( (IN:SATIN) ) has shared an announcement.
Satin Creditcare Network Limited announced that its wholly owned subsidiary, Satin Technologies Limited, has signed a Share Subscription-cum-Shareholders Agreement to acquire up to 76.40% equity in QTrino Labs Private Limited, a deep-tech cybersecurity company specializing in cost-effective, quantum-safe security solutions for businesses and governments. The all-cash, majority-stake acquisition, to be executed in tranches over an indicative period of one to four years, is aimed at expanding STL’s information technology business, strengthening Satin Creditcare’s overall market position, and supporting long-term shareholder value by adding advanced cybersecurity capabilities to the group’s technology portfolio, while the transaction is structured on an arm’s-length basis and does not constitute a related-party acquisition beyond limited existing loan exposure from a group entity.
More about Satin Creditcare Network Ltd
Satin Creditcare Network Limited operates in India’s financial services sector, primarily through microfinance and related lending activities, and has been expanding its technology capabilities via its wholly owned subsidiary, Satin Technologies Limited (STL), which focuses on information technology solutions that support and enhance the group’s financial services offerings.
Average Trading Volume: 6,533
Technical Sentiment Signal: Sell
Current Market Cap: 16.65B INR
For detailed information about SATIN stock, go to TipRanks’ Stock Analysis page.