Radiant Cash Management Services Limited entered into binding agreement to acquire 10.17% stake in Aceware Fintech Services Private Limited for INR 20 million.

Radiant Cash Management Services Limited (NSEI:RADIANTCMS) entered into binding agreement to acquire 10.17% stake in Aceware Fintech Services Private Limited for INR 20 million on November 7, 2023. As part of the deal, Radiant will acquire 0.15 equity shares of Aceware. Aceware reported turnover of INR 19.16 million and net loss of INR 25.01 million for the year ended March 31, 2023.

The board of directors of Radiant has approved the deal. In a related transaction, Radiant will also subscribe to new equity shares and will hold 56.93% stake in Aceware post the completion of the deal. The transaction is expected to close no later than January 31, 2024.