Veefin Solutions touches the roof on acquiring 50% stake in Walnut AI
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Veefin Solutions is currently trading at its upper limit of Rs. 604.30, up by 28.75 points or 5.00% from its previous closing of Rs. 575.55 on the BSE.
The scrip opened at Rs. 578.00 and has touched a high and low of Rs. 604.30 and Rs. 575.00 respectively. So far 66400 shares were traded on the counter.
The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 753.90 on 10-Sep-2024 and a 52 week low of Rs. 185.95 on 15-Nov-2023.
Last one week high and low of the scrip stood at Rs. 639.00 and Rs. 561.15 respectively. The current market cap of the company is Rs. 1364.09 crore.
The promoters holding in the company stood at 37.40%, while Institutions and Non-Institutions held 4.48% and 58.12% respectively.
Veefin Solutions through its subsidiary Estorifi Solutions has acquired 50% stake consisting of 27,778 Equity shares of SGD 9.54 each of Walnut AI on November 5, 2024. Cost of acquisition is $2,000,000.
The objects of acquisition are increase in revenue by getting access to the large client database across multiple geographies and generate additional revenue; and building synergies by combining the resources and expertise of both entities to create new opportunities for growth and innovation.
Veefin Solutions is a Digital Lending and Supply Chain Finance (SCF) technology product Solutions Company based in Mumbai.
