Cholafin to make strategic investment in software start-up Paytail

Image
Capital Market
Last Updated : Sep 15 2021 | 10:31 PM IST
Cholamandalam Investment & Finance Company has agreed to make a strategic investment in Paytail Commerce Private (Paytail) up to a sum not exceeding Rs.9.75 crore in 27,482 equity sharesin one or more tranches subject to satisfactory completion of due diligence and documentation. In this regard, the Company has signed Shareholders Agreement and Share Subscription Agreement on 15 September 2021 with the Paytail, Founders and other existing shareholders of Paytail.

Paytail is a payments software start]up company which works with NBFCs and provides technology for instant loan processing to consumers to buy products as well as services across merchants.

The investment will result in the Company holding up to 16.29% of the equity capital of Paytail.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Sep 15 2021 | 10:05 PM IST

Next Story