KFin Technologies Limited — Capital/Financing Update 2023

Apr 6, 2023

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April 06, 2023

CS&G/STX/JQ2023/01

1) National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051

Scrip Symbol: KFINTECH

2) BSE Limited

Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 543720

Sub. : Intimation of Investment in WebileApps (India) Private Limited

Ref. : Regulation 30 of the LODR Regulations

Dear Sir / Madam,

Pursuant to Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“ LODR Regulations ”), this is to inform that KFin Technologies Limited (“ the Company ”) has entered into definitive agreement on April 06, 2023, for subscribing to 1,60,000 Equity Shares of WebileApps (India) Private Limited (“ WebileApps ”) for a consideration of Rs. 11,00,00,000 translating into an equity shareholding of 100.00% of the post-issue share capital of WebileApps (“ Transaction ”). Post this investment, WebileApps shall become the wholly owned subsidiary of the Company. WebileApps has a whollyowned subsidiary, namely WebileApps Technology Services Private Limited. The transaction is subject to customary closing conditions.

The details as required to be disclosed under the LODR Regulations read with SEBI’s Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015, are enclosed herewith as “Annexure - A”.

This is for your information and records.

Thanking you,

Yours faithfully,

For KFin Technologies Limited

ALPANA Digitally signed by ALPANA UTTAM UTTAM KUNDU Date: 2023.04.06 KUNDU 12:34:37 +05'30' Alpana Kundu Company Secretary and Compliance Officer ICSI Membership No.: F10191

Encl.: a/a

compliance.corp@kfintech.com

Annexure – A

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Details as required to be disclosed under the LODR Regulations read with SEBI’s Circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015

Sr. No.	Particulars	Details
(a)	Name of the target entity, details in brief such as size, turnover etc.	WebileApps (India) Private Limited FY22 turnover: Rs 5.71 Crore
(b)	Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”	This transaction does not constitute a related party transaction and the promoter / promoter group / group companies of the Company have no interest in WebileApps.
(c)	Industry to which the entity being acquired belongs	Founded in 2011, WebileApps (India) Private Limited (“WebileApps”) is a Hyderabad-based enterprise product development and design company specialising in artificial intelligence, machine learning, mobility solutions, UI / UX, and other products development for banking and financial services industry. Its service offerings evolved to encompass the entire product development life cycle, such as business analysis, design, development, DevOps, CI / CD, UI / UX and quality assurance.
(d)	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity)	Strategic Investment
(e)	Brief details of any governmental or regulatory approvals required for the acquisition	Not Applicable
(f)	Indicative time period for completion of the acquisition	Approximately 2-3 months
(g)	Nature of consideration - whether cash consideration or share swap and details of the same	Cash consideration of Rs. 11,00,00,000 for purchase of 100% equity stake.
(h)	Cost of acquisition or the price at which the shares are acquired	Transaction: Rs. 687.50 per equity share of WebileApps.

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Sr. No.	Particulars	Details
(i)	Percentage of shareholding / control acquired and / or number of shares acquired	Upon completion of the transaction, the Company shall own 100% of the equity shares of WebileApps. Post this investment, WebileApps shall become a wholly owned subsidiaryof the Company.
(j)	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief)	Date of Incorporation: November 30, 2011 WebileApps (India) Private Limited (“WebileApps”) is a Hyderabad-based enterprise product development and design company specialising in artificial intelligence, machine learning, mobility solutions, UI / UX, and other products development for banking and financial services industry. Its service offerings evolved to encompass the entire product development life cycle, such as business analysis, design, development, DevOps, CI / CD, UI / UX and quality assurance. WebileApps has been instrumental in delivering a first of its kind buy-now-pay-later platform to Unplank, a client in the United States, platforms like MF Central and others in India, and serviced several other fortune 500 companies like SAP, CISCO, and Microsoft. History of last 3 years turnover: FY20: Rs. 4.04 Crore; FY21: Rs. 6.05 Crore; FY22: Rs. 5.71 Crore Country of presence: India

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