Indiabulls diversifies into fintech with ₹1,050cr deal
What's the story
Indiabulls has announced its plan to acquire a 70% stake in Fintech Cloud Private Limited for ₹1,050 crore. The deal values the fintech company at ₹1,500 crore and will be settled by issuing up to 21 crore new Indiabulls shares to Fintech Cloud's shareholders under an NCLT-approved merger scheme. The transaction is subject to approvals from stock exchanges, SEBI, and shareholders.
Strategic move
Entry into NBFC fintech technology space
The acquisition marks Indiabulls's entry into the NBFC fintech technology space.
Fintech Cloud, a young company founded in 2021, reported no revenue until FY25. However, it recorded a revenue of ₹133.77 crore and profit before tax (PBT) of ₹30.31 crore in FY26.
As part of the deal, Indiabulls will appoint most directors on Fintech Cloud's board with immediate effect.