Bajaj Finance has said that it is going to acquire around 11 percent stake in mobile wallet company Mobikwik for around Rs 225 crore.

Bajaj Finance has said in a BSE filing that it has entered into a subscription agreement with One MobiKwik Systems.

As per the agreement, it will acquire 10 equity shares and 271,050 compulsory convertible preference shares (CCPS) of Mobikwik.

It added that “Post conversion of CCPS, the company would hold approximately 10.83 percent of equity in MobiKwik on a fully diluted basis.”

Read EquityPandit’s Technical Analysis of Indian Stock Market