Pine Labs Ltd Completes 100% Acquisition of Agya Technologies for INR 13.9 Crores

Pine Labs Ltd, a leading technology company, has completed the acquisition of 100% stake in Agya Technologies, a Private Limited Company incorporated under the Companies Act, 2013, on April 26, 2021. Agya Technologies is in the business of online account aggregation for financial information. The acquisition was made for a cash consideration of INR 13,90,00,000. Pine Labs Ltd, through its wholly owned subsidiary BrokenTusk Technologies Private Limited (BTPL), acquired 10,000 equity shares from the existing shareholders of Agya Technologies, thereby increasing its stake from 25.40% to 100%.