Announced Fri, 3 Jul · 19:41 IST
SecMark Consultancy to set up wholly owned NBFC for account aggregation
Strategic Transactions View source PDF
SECMARK · price
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Price reaction · full curve 14 horizons · vs prior close
+0.6%1-day move
₹124.70
prior close
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base price
After-mkt
timing
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————+0.6+0.7+0.2+1.0+3.4+2.5+2.3———
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AI summary
SecMark Consultancy board approved incorporating SecMark Financial Aggregation Private Limited, a 100 percent wholly owned subsidiary. The new entity will operate as an Account Aggregator NBFC under RBI rules, retrieving and consolidating financial information of users with their consent. Initial subscription is about Rs 1 lakh in cash for 10,000 shares of Rs 10 each. RBI approval is required before incorporation is completed.
Likely market impact
Small capital outlay but signals a strategic move into the fintech data aggregation space. Subsidiary is yet to be incorporated and needs RBI clearance.