Indiabulls Consumer Finance which is a wholly-owned subsidiary of Indiabulls Ventures. It has invested Rs 46 crore to acquire a 42% stake in digital payments and mobile wallet entity Transerv. Transerv offers mobile payments solutions under the brand name of Udio. In a notification to the stock exchanges on March 20, Indiabulls said that they had issued a share purchase agreement to acquire 42% in Transerv on a fully diluted basis in one or more tranches.
In the reporting to the exchanges, Indiabulls said that the acquisition will help them offer payments. And lending services to the customers of its consumer finance business and the acquisition was set to be completed by March 29.
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