Niyogin Fintech Limited (BSE:538772) agreed to acquire 51% stake in Iserveu Technology Pvt Ltd for approximately INR 592 million on August 31, 2020. Under the transaction, Niyogin Fintech will pay in cash and stock deal. Upto 7.331969 million equity shares of aggregating to INR 329.43 million will be issued to shareholders of Iserveu Technology Private Limited. The transaction is subject to customary closing conditions, including receipt of requisite statutory and regulatory approvals, including approval of the shareholders of the Niyogin Fintech Limited. Board of Directors of Niyogin Fintech Limited approved the acquisition. Board has approved issuance of equity shares for an amount not exceeding INR 329.43 million to the shareholders of Iserveu Technology on preferential basis, subject to compliance with applicable pricing regulations. Transaction is expected to close within 75 working days. Equirus Capital acted as the exclusive financial advisor to iServeU for this transaction. Samir Sheth of BDO Lodha (P) Ltd. acted as financial advisor to Iserveu Technology Pvt Ltd.