Pine Labs Invests ₹25 Cr in Subsidiary SFNPL

Pine Labs Limited has invested ₹24,99,93,297 in its wholly owned subsidiary, Synergistic Financial Networks Private Limited (SFNPL), through a Rights Issue. This investment of 49,869 equity shares is intended to meet SFNPL's working capital needs and support its growth opportunities, including investment in step-down subsidiaries. The transaction does not alter Pine Labs' shareholding percentage in SFNPL, which remains at 100%. SFNPL operates in the Financial Technology industry, facilitating financial transactions and providing payment processing solutions. The acquisition is considered an investment and not a related party transaction.