RNFI Services to acquire BC business of Arth and AgroServe
RNFI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
RNFI Services board approved acquiring Business Correspondent businesses for SBI and Bank of Baroda from Arth Rural Connect Services and AgroServe Global Technologies on a slump sale basis. Deal worth up to about Rs 2 crore, split 50 percent cash and 50 percent equity shares via preferential issue. Acquired units have about 1,100 customer service points, turnover of around Rs 12.5 crore and gross margin of about Rs 3.6 crore in FY26. Not a related party deal. Subject to shareholder and exchange approvals, completion targeted within 90 days.
Modest acquisition adds SBI and Bank of Baroda as direct clients; equity component may cause minor dilution for existing shareholders.