Bajaj Finance will acquire 12.60% stake in mobile wallet company, Mobikwik. Last year in august, it had entered into a subscription agreement with One MobiKwik Systems for acquiring 10.83% stake at approx Rs.225 crore.

The company stated, “Due to the change in the conversion price of compulsory convertible cumulative preference shares (CCCPS)…the company will now hold approximately 12.60% of equity in Mobikwik on a fully diluted basis post conversion of CCCPS, as and when it happens. There is no further investment made by the company that what has been made earlier”

Moreover, under the agreement, Bajaj will acquire 10 equity shares and 2,71,050 compulsory convertible cumulative preference shares of Mobikwik.

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