Other Private Equity/Strategic Investments
HDFC Bank acquires 7.75 % stake in fintech startup Mintoak for Rs.31.1 Cr
Publicly listed HDFC Bank acquired a 7.75 % stake in Mintoak Innovations Pvt Ltd for INR 31.1 crore. The bank would subscribe to 21,471 fully paid up Compulsory Convertible Preference Shares (CCPS) of face value of INR 20 each at a premium of INR 9,711 for an aggregate consideration of INR 9,731 per CCPS to be issued by Mintoak. Mintoak provides a payments-led platform offering value-added services to card merchants to engage with their customers and for card “acquirers†to enhance their engagement with merchants. For the financial year ending March 31, 2022, Mintoak had a turnover of INR 11.28 crore and a net profit of INR 1.47 crore.
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