My Money Securities Limited (BSE:538862) agreed to acquire a stake in My Money Credits Private Limited on February 27, 2024. The consideration is payable in cash. As reported, My Money Securities will acquire 17,00,000 equity shares in My Money Credits Private Limited by way of shares applied pursuant to Right Issue by My Money Credits and shares renounced by the other shareholders for INR 18.7 million.

For FY 2022-23, My Money Credits reported total revenue of INR 1.38 million. The transaction was approved by the Board of Directors of My Money Credits Private Limited in its meeting held on February 27, 2024. The transaction is expected to close on March 5, 2024.