Nidhi Granites Limited has announced the acquisition of Auro Fintech Private Limited, making it a wholly owned subsidiary of the company. The transaction, valued at INR 60,57,000, was finalized on April 1, 2025. This acquisition marks an important strategic step for Nidhi Granites, aimed at expanding its investment portfolio and venturing into the financial technology sector.

Board Meeting Outcome

The Board of Directors of Nidhi Granites Limited convened on April 1, 2025, at 9:00 a.m. and concluded at 10:15 a.m., during which the acquisition of Auro Fintech Private Limited was approved. This move comes as part of the company's effort to diversify its business interests and enhance its revenue streams by tapping into the financial technology (fintech) space.

Details of the Acquisition

• Target Company: Auro Fintech Private Limited

• Acquisition Consideration: INR 60,57,000

• Shareholding Acquired: 100% (12,500 equity shares)

• Industry: Financial Technology and related services

• Nature of Consideration: Cash

• Time Period for Completion: 30 days

• Regulatory Approvals: No governmental or regulatory approvals were required for the acquisition.

This acquisition positions Auro Fintech as a fully owned subsidiary of Nidhi Granites, allowing the company to expand its footprint in the fintech sector.

About Auro Fintech Private Limited

Founded on March 4, 2022, Auro Fintech Private Limited is a technology-driven company focused on business process transformation through banking-as-a-service. Auro Fintech is committed to delivering innovative processes, techniques, and ideas, using Application Programming Interfaces (APIs) and web-based services to offer financial solutions, primarily in the payments domain.

• Turnover:

  • FY 2022-2023: INR 1,14,16,000

  • FY 2023-2024: INR 4,93,85,000

  • FY 2024-2025 (as of Dec 31, 2024): INR 6,36,20,579

• Presence: India (with plans to expand globally)

The company has shown impressive growth in its three-year history, with its turnover increasing significantly each year, reflecting its growing presence in the fintech industry.

Strategic Implications of the Acquisition

This acquisition aligns with Nidhi Granites’ strategy to diversify its investments into technology-driven businesses and enhance its revenue potential. As Auro Fintech becomes a wholly owned subsidiary, Nidhi Granites plans to leverage its innovative fintech solutions to open new revenue channels and create synergies in financial services.

Conclusion

The acquisition of Auro Fintech marks an exciting new phase for Nidhi Granites Limited, as the company continues to explore new business avenues. With Auro Fintech’s expertise in financial technology and its impressive growth trajectory, Nidhi Granites is poised to benefit from its innovative solutions, contributing to the company’s long-term success.

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