RNFI Services Limited Board Approves Acquisition of Ambition Services Private Limited for Strategic Expansion
RNFI Services Limited has approved the acquisition of up to 75% of the paid-up share capital in Ambition Services Private Limited. This strategic move aims to expand RNFI's business network, enhance distribution capabilities, and strengthen its presence within financial inclusion and lending businesses.The Board of Directors authorized the acquisition of a stake in Ambition Services Private Limited through a combination of a Fresh Issue of Shares and Share Transfer. The transaction is set to be completed within 18 months from the date of the Board Meeting. Following this acquisition, Ambition Services Private Limited will become a subsidiary of RNFI Services Limited.
The aggregate investment proposed by RNFI Services Limited for this acquisition is up to INR 4.03 Crore and will utilize Cash Consideration.
Target Company Details and Financial Standing
Ambition Services Private Limited, incorporated on June 24, 2015, operates as a service provider focusing on the roles of Business Correspondents and Business Facilitators. The target company has a Paid-up Share Capital of Rs. 8,08,65,650/-.
The acquisition is intended to expand RNFI's geographical reach and correspondent network. Details regarding Ambition Services Private Limited for the past three financial years are as follows:
| Financial Year | Turnover (Rs.) |
|---|---|
| FY2024-25 | 19.52 Crores |
| FY2023-24 | 21.67 Crores |
| FY2022-23 | 12.93 Crores |
Ambition Services Private Limited is based in New Delhi, India and operates within the industry segment of Business Correspondents and Service Providers. The acquisition does not fall under related party transactions, and neither RNFI nor its promoter group has any interest in the target entity.
RNFI Stock Price Movement
Shares of RNFI Services Limited today slipped by 1.17% to settle at ₹256.95 after losing ₹3.05 from the previous close. The stock recorded a volume of 23,400 shares during trading hours.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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