Transaction Solutions International (India) Private Limited agreed to acquire Tata Communications Payment Solutions Limited from Tata Communications Limited (NSEI:TATACOMM) for INR 4.05 billion on November 13, 2024. A cash consideration of INR 4.05 billion will be paid by Transaction Solutions International (India) Private Limited. As part of consideration, INR 4.05 billion is paid towards common equity of Tata Communications Payment Solutions Limited. The consideration is subject to customary adjustments. The transaction is subject to approval Reserve Bank if India. The transaction is to be completed by the end of the fourth quarter of FY 2024-25. As on January 29, 2025 the RBI has conveyed that it has no objection to the aforementioned transaction. As of February 3, 2025, Transaction Solutions International (India) Pvt Ltd (TSI), has received regulatory approval from the Reserve Bank of India (RBI) for the acquisition of Tata Communications Payment Solutions Ltd. As part of the approval of the Acquisition, the RBI has also consented to TSI acquiring TCPSL?s White Label ATM licence. Completion of the Acquisition can now proceed and Findi anticipates the Acquisition to complete within the next 60 days. The acquisition reinforces Findi?s strategic focus of growing the ATM network, expanding its product and service offering, building the payments bank ecosystem and driving scale. The Board is pleased how these acquisitions are coming together to also enhance the organic growth being experienced by Findi. This combination of organic and inorganic growth will deliver long-term value to Findi?s customers and shareholders.

Anu Tiwari, Lakshmi Prakash and Swati Sharma of Cyril Amarchand Mangaldas acted as legal advisor to Tata Communications Payment Solutions Limited and Tata Communications Limited. Kunal Gala of BDO Consulting Private Limited, Financial Advisory Arm acted as financial advisor to Transaction Solutions International (India) Private Limited.

Transaction Solutions International (India) Private Limited completed the acquisition of Tata Communications Payment Solutions Limited from Tata Communications Limited (NSEI:TATACOMM) on February 28, 2025. The transaction has now been completed following the receipt of regulatory approval from the Reserve Bank of India (RBI), and the fulfilment of all conditions agreed between the parties under the relevant definitive agreement.