Jagsonpal Finance and Leasing Ltd announces proposed acquisition of Welcast Finstocks Pvt Ltd, subject to RBI Approval

Fintech company Jagsonpal Finance and Leasing Limited (Jagsonpal Finance) announces its intent to acquire Welcast Finstocks Pvt Ltd, a Non-Banking Financial Company (NBFC), subject to requisite regulatory approvals, including from the Reserve Bank of India (RBI).

The acquisition will position Jagsonpal Finance as a leading player in India's rapidly expanding overseas education financing market, combining Welcast's established retail and SME lending expertise with Jagsonpal's technology-driven platform.

Strategic Value Creation

- Market Leadership: Targets India's growing overseas education lending opportunity
- Operational Scale: Expands lending capacity across retail and SME segments
- Technology Edge: Integrates digital-first lending with traditional NBFC strengths
- Geographic Reach: Deepens penetration in underserved markets

Commenting on the development, Karthik Srinivasan, Chairman and Managing Director of Jagsonpal Finance, said: "Welcast Finstocks has built a strong foundation in retail and SME lending. Acquisition combined with our tech-driven approach, we aim to build a more agile, tech-driven, and customer-focused NBFC that can better serve India's evolving financial needs, including the growing demand for education financing for students pursuing overseas studies."

Jagsonpal Finance has initiated the approval process under the Master Direction - Reserve Bank of India (Non-Banking Financial Company - Scale Based Regulation) Directions, 2023, which require prior written permission for any acquisition involving 26% or more of equity or a significant change in board composition.

Shares of JAGSONPAL FINANCE & LEASING LTD. was last trading in BSE at Rs. 49.55 as compared to the previous close of Rs. 52.08. The total number of shares traded during the day was 1997 in over 26 trades.

The stock hit an intraday high of Rs. 52.12 and intraday low of 49.48. The net turnover during the day was Rs. 99564.00.

Source : Equity Bulls

Keywords

JAGSONPALFINANCEandLEASING INE582C01015 NBFC Acquisitiobn WelcastFinstocks