M&A
LKP Finance acquires stake in online gifting platform Gyftr
BSE Announcement Business Line
Mumbai-based, publicly listed LKP Finance Ltd. has acquired a strategic stake in Delhi-based digital gifting platform, Gyftr , as part of its transition from a non-banking financial company (NBFC) model to a payments and rewards-focused fintech platform. LKP Finance holds an existing 22% stake in Mufin Pay, which fully owns Gyftr (Vouchagram Private Limited). LKP Finance has applied to surrender its NBFC license and is currently processing a licensing agreement to change its name to Gyftr.Founded in 2012, Gyftr operates as a digital gifting platform, providing expertise in digital gifting, incentives, and rewards across more than 300 brands. Mufin Pay’s prepaid payment instrument license will serve as the regulated payments infrastructure for the combined entity. This acquisition is expected to create a unified payments and digital rewards offering and position the combined entity to compete in the loyalty and rewards market.
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