Please find enclosed the Annual Report along with the Notice of the 37th AGM of the Company.
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Awaiting price reaction for this filing.
Niyogin Fintech filed its Annual Report for FY 2024-25 along with the Notice for its 37th AGM, scheduled for September 17, 2025 via video conferencing. A major highlight is the Board-approved composite scheme to spin off its tech-enabled NBFC business into 'Niyogin Finserve' and merge the residual holding company into iServeU (its payments technology arm), creating two independent pure-play listed entities. Key NBFC financials showed AUM up 56% YoY to ₹278.8 crore and gross income up 84% to ₹76.7 crore, while iServeU posted three consecutive quarters of positive EBITDA with net revenues of ₹39.6 crore. The company raised ₹132 crore in borrowings and received ₹56.2 crore from warrant conversions to strengthen its balance sheet. FY26 targets include ₹750 crore disbursements and ₹500-550 crore AUM for the NBFC, and ₹70-80 crore net revenue with 12-15% EBITDA margins for iServeU.
While the filing itself is a routine annual compliance, the proposed demerger is a significant value-unlocking event that could create two focused, pure-play investment opportunities — a tech-driven NBFC and a profitable payments infrastructure company. Shareholders should watch for further updates on the demerger timeline and regulatory approvals, as successful execution could lead to better valuation discovery for both businesses.