Key highlights:

  • Bajaj Finance acquires nearly 11% stake in MobiKwik for Rs 225 crore
  • Bajaj Finance would hold approximately 10.38% of equity in MobiKwik
  • MobiKwik in talks with investors to raise another $70 million on top of this deal

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Bajaj Finance Ltd announced on Wednesday that it has brought nearly 11% stake in digital payments company MobiKwik for Rs 225 crore. The company has entered into an agreement with MobiKwik for the an acquisition of 10 equity shares and 2,71,050 compulsory convertible preference shares (CCPS).

Axis Bank acquires Accelyst and Freecharge for Rs 385 crore

  • Here's how Freecharge acquisition will bolster Axis Bank's digital arm
  • Mobile wallet firms FreeCharge, MobiKwik in talks regarding merger