Mumbai, March 26 -- The acquisition was approved by the board of directors in a meeting held on Monday, 25 March 2025, and is part of the company's strategic move to enhance supply chain financing for its vendors. The target entity, Mynd Solutions, operates the M1xchange platform, which supports MSMEs and non-MSMEs by providing access to digital supply chain financing, streamlining payments, optimizing working capital cycles, and improving overall efficiency across the supply chain structure.

The total cost for the acquisition of the 5.03% stake is approximately Rs 102.7 crore, with the transaction involving a combination of primary capital and secondary purchase of shares from existing shareholders. Including the stake held by Jindal St...