Niyogin Fintech to Sell 58% Stake in Material Subsidiary Investdirect
Niyogin Fintech Limited's Board of Directors has approved the sale of 1,94,414 equity shares (58%) and 45,076 Compulsorily Convertible Preference shares (100%) in its material subsidiary, Investdirect Capital Services Private Limited. This transaction, subject to shareholder approval, will result in Niyogin Fintech ceasing to control Investdirect and its step-down subsidiary, Moneymap Investment Advisors Private Limited. The board also approved the unaudited financial results for Q1 FY27 and recommended the re-appointment of Pijush Gupta & Co. as statutory auditors for a second five-year term. Additionally, the company decided not to proceed with the proposed appointment of Abhishek Thakkar as Whole-time Director and approved the re-designation of Ronak Shah as Deputy CFO and appointment of Jayesh Poojari as Chief Audit Officer.
Key Highlights
- Niyogin Fintech to divest 58% equity and 100% CCPs in Investdirect.
- Sale of subsidiary will lead to loss of control over Investdirect.
- Board approved Q1 FY27 unaudited financial results.
- Statutory auditors re-appointment recommended for five years.
- Changes in key management roles approved.
Price Impact
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