Pursuant to Clause 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, we state the outcome of the Board Meeting as under: - 1. Meeting of the Board of ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Nidhi Granites Limited announced that its board, at a meeting on April 1, 2025, approved the acquisition of 100% (12,500 equity shares) of Auro Fintech Private Limited for a cash consideration of INR 60,57,000. Auro Fintech, incorporated in March 2022, operates in the financial technology and payments domain, offering API and web-based banking-as-a-service solutions to corporates and institutions. Its turnover grew from INR 1.14 crore in FY23 to INR 4.94 crore in FY24, reaching INR 6.36 crore (as of Dec 31, 2024). The acquisition is not a related-party transaction, no government approvals are needed, and completion is expected within 30 days. Post-acquisition, Auro Fintech becomes a wholly owned subsidiary of Nidhi Granites.
This marks Nidhi Granites' entry into the FinTech/payments sector, diversifying beyond its core granite business into a higher-growth segment. While the acquisition size is modest, shareholders should note the strategic shift and watch for future revenue contribution from the new subsidiary.