Sancode Technologies Acquires Majority Stake in Sanfin Technologies

On April 1, 2024, Sancode Technologies informed in an exchange filing that the company has acquired 1% shareholding in the existing Joint Venture Company “Sanfin Technologies Private Limited”.

Details of the Acquisition

Sancode Technologies Limited acquired an extra 1% shareholding on March 31, 2024, in Sanfin Technologies Private Limited, where the company already holds 50% of the shareholding. They also stated that after the acquisition, Sanfin Technologies Private Limited became a subsidiary of Sancode Technologies Limited, effective March 31, 2024.

The company stated, “This is to inform that the Company has acquired additional 1% shareholding on 31st March, 2024 in existing Joint Venture Company “Sanfin Technologies Private Limited” in which Company already hold 50% of Shareholding, hence after this acquisition, the Sanfin Technologies Private Limited has become subsidiary of Sancode Technologies Limited w.e.f. 31st March, 2024.”

Sanfin Technologies Private Limited is involved in the consultancy and advisory services industry. They provide consultancy and advisory services such as Direct Selling Agent services in the DSA bank loan, credit and bank franchisers and other related services physically and through its mobile application and Web portal. Sanfin Technologies Private Limited was incorporated on June 1, 2023.

Further, Sancode Technologies Limited provides technology support to Sanfin Technologies Private Limited for the development of the mobile application or web portal and the future growth of the business.

As per the exchange filing, Sancode Technologies Limited acquired 100 shares of a face value of ₹10 each at a total consideration of ₹1,000. After the acquisition, the company holds 5,100 Equity Shares of face value of ₹10 each in Sanfin Technologies.

On April 2, 2024, the Sancode Technologies share price opened at ₹85.07, touching the day’s high at ₹85.07, as of 10:44 AM on the BSE.

About Sancode Technologies Limited

Sancode Technologies Limited was incorporated in 2026. The company is involved in the business of offering management consultancy services and other services to startups and other entities.

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