63 Moons Technologies Announces Strategic Business Divestments

63 Moons Technologies Limited, a prominent player in financial technologies, recently announced the strategic divestment of three of its business undertakings: the Straight Through Processing (STP-Gate) messaging solution, the Open Dealer Integrated Network (ODIN), and the MATCH back-office services. These sales, executed through a slump sale basis to Synapsewave Innovations Private Limited, signify a strategic shift in the company’s operational focus.

The 63 Moons Technologies share price reached an intraday high of ₹877.30 on the NSE at 9:21 AM on January 21, 2025.

Details of the Divested Units

1. STP-Gate Business:
   The STP-Gate messaging solution, designed to enable seamless post-trade settlements for brokers and fund houses, was sold for ₹1 crore in cash. In FY 2023-24, the unit contributed ₹144.91 lakhs to the company’s consolidated revenue, equating to 0.31%, while its net worth was recorded as nil​.
2. ODIN Business:
   The ODIN platform, a robust order management system catering to dealers and brokers, was sold following regulatory and shareholder approvals. This sale was concluded post-compliance with an MPID Court order, further cementing Synapsewave’s acquisition​.
3. MATCH and Other Services:
   MATCH, offering comprehensive back-office solutions for member accounting and trade confirmations, alongside related components, also transitioned to Synapsewave’s ownership. The transaction underscores Synapsewave’s ambition to expand its technological offerings​.

Transaction Highlights

Slump Sale Basis:
All three units were sold on an “as-is-where-is” basis, ensuring a smooth transfer of operations without debt or cash implications.

• Non-Promoter Buyer:
  Synapsewave Innovations does not belong to 63 Moons’ promoter group, confirming the arm’s-length nature of the transaction​​.
• Regulatory Compliance:
  The deals adhered to the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, ensuring transparency and regulatory approval at every stage.

Strategic Implications for 63 Moons

These divestments represent a recalibration of 63 Moons’ business strategy, potentially allowing the company to focus on its core competencies or explore new growth opportunities. While these units contributed marginally to the overall revenue, their sale aligns with long-term value creation.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.