FINDI through its majority-owned Indian subsidiary Transaction Solutions International (India) (TSI), has selected DAM Capital Advisors and Ambit as BRLMs for the proposed Initial Public Offering (IPO) of TSI. DAM Capital has Left Lead role for the IPO responsible for all regulatory filings.
In addition, Rothschild & Co., a financial advisory firm, has also been appointed as the exclusive financial advisor, enhancing the company’s advisory landscape and enhancing the strategic significance of the IPO in FINDI’s long-term capital allocation and growth strategy.
The proposed IPO will consist of a mix of fresh issuance and offer-for-sale (OFS) components. Proceeds from the fresh issue will be deployed towards scaling up FINDI’s financial infrastructure network across TSI, FindiATM and FindiBANKIT, investing in new-age digital banking solutions, and deepening last-mile access across India’s underserved rural and semi-urban markets.
FINDI is expected to file the Draft Red Herring Prospectus (DRHP) in the coming quarters.
Deepak Verma, Managing Director and CEO of FINDI, said, “We see India as one of the most promising and dynamic financial services markets in the world. FINDI has built a strong foundation in physical and digital infrastructure, and this IPO is a strategic leap to unlock scale, impact, and innovation that will truly serve the underserved and underbanked in all parts of the country. With DAM Capital, Ambit, and Rothschild as our partners, we are confident of delivering long-term value for our investors and driving transformational change across India’s financial ecosystem.”
He added, “The strategic appointment of DAM Capital and Ambit Capital, combined with Rothschild’s world-class financial advisory expertise, creates a powerful advisory consortium that positions us optimally to execute a highly successful IPO. This transaction will provide the necessary capital and market platform to fuel our ambitious next phase of growth, innovation, and market expansion throughout the dynamic Indian fintech landscape.”
In recent months, FINDI, through TSI, had acquired Indicash (Tata Communications’ White Label ATM business) and BANKIT, a merchant based Payment Solutions platform for the underbanked. Both entities (now operating as FindiATM and FindiBANKIT respectively), along with TSI (which specializes in Brown Label ATMs in partnership with 12 top Indian banks), form the 200,000+ Cash and Digital Payments touchpoint network that FINDI currently operates in India.
