The Board has approved the acquisition of 12500 equity shares for a consideration of INR 6057000 of Auro Fintech Private Limited on 1st April, 2025. Due to above acquisition "Auro Fintech ....
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 Ltd has acquired 100% (12,500 equity shares) of Auro Fintech Private Limited for a cash consideration of ₹60.57 lakhs, effective 1st April 2025. Auro Fintech now becomes a wholly owned subsidiary of the company. Auro Fintech operates in the FinTech and payments domain using API and web-based services, and reported a turnover of about ₹6.36 crore as of December 2024, up from ₹4.94 crore in FY24. The deal is a diversification move, as the acquired entity's business is outside Nidhi Granites' main line of granite operations. The transaction is not a related-party deal and no regulatory approvals are required.
This is a small-ticket acquisition (₹60.57 lakhs) for diversification into FinTech, which could be positive if the subsidiary's growth trajectory (revenue up ~5x in two years) continues. However, given the small size relative to Nidhi Granites' listed status, immediate material impact on the stock price is unlikely.