Pine Labs Invests INR 24 Crore in Synergistic Financial Networks, Boosts Wholly Owned Subsidiary
Pine Labs Limited has invested a sum of INR 24,99,93,297 into Synergistic Financial Networks Private Limited (SFNPL) through the subscription of Rights Issue shares. This investment is intended to meet working capital needs and support future growth opportunities for SFNPL, which remains a wholly owned subsidiary of Pine Labs Limited.The company acquired 49,869 equity shares of SFNPL at the specified consideration. Despite the acquisition, there will be no change in Pine Labs Limited's shareholding percentage in SFNPL, as the entity is already a wholly owned subsidiary.
SFNPL, which was incorporated on March 12, 2008, operates in the Financial Technology industry. Its business focuses on facilitating financial transactions through its systems infrastructure, encompassing payment processing, providing end to end technology integrated solutions, and selling transaction related infrastructure.
The investment details and background of SFNPL are summarized below:
| Particulars | Details |
|---|---|
| Target Entity | Synergistic Financial Networks Private Limited (SFNPL) |
| Nature of Business | Facilitating financial transactions through systems infrastructure, including payment processing, end to end technology integrated solutions, and selling transaction related infrastructure. |
| Incorporation Date | March 12, 2008 |
| Transaction Type | Cash consideration subscription to Rights Issue |
| Investment Amount | INR 24,99,93,297 |
| Shares Acquired | 49,869 equity shares |
Financial and operational metrics for SFNPL include:
| Metric | Details |
|---|---|
| Paid up capital (post infusion) | INR 3,18,15,790 |
| Turnover as on March 31, 2026 | INR 1,89,74,69,654 |
The purpose of Pine Labs Limited's investment is to facilitate further growth opportunities for SFNPL and support the company in investing into step down subsidiaries. The transaction was conducted as a cash consideration acquisition and was not categorized as a related party transaction.
PINELABS Stock Price Movement
Pine Labs Limited shares slipped by 1.36% today, settling at ₹158.51 following a decline of ₹2.17. The stock traded on a volume of approximately 11.73 million shares during the market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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