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IT stock under ₹25 jumps after it acquires 1.94% stake in Spice Money

Prominent IT company acquires a 1.94% stake in its subsidiary for ₹4.5 crore, strengthening its hold in digital payments and enhancing financial services growth while providing an exit for the existing shareholder.
IT stock under ₹25 jumps after it acquires 1.94% stake in Spice Money
IT stock under ₹25 jumps after it acquires 1.94% stake in Spice Money

Introduction:

Leading IT company has acquired a 1.94% stake in its material subsidiary, strengthening its position in the digital payments sector. The ₹4.5 crore transaction enhances stake consolidation while providing an exit to the existing shareholder, reinforcing growth in tech-enabled financial services.

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Share price movement of DiGiSPICE Technologies:

On February 21, 2025, Digispice Technologies Ltd opened at ₹23.64, slightly up from its previous close of ₹23.18. The stock reached a high of ₹24.50 (5.70%) and a low of ₹23.47. By 10:03 AM, it traded at ₹23.56, a 1.64% increase, with a market cap of ₹550.42 crore.

DiGiSPICE Technologies Acquires 1.94% Stake in Spice Money:

DiGiSPICE Technologies Ltd. has announced the acquisition of 8,69,030 Class B shares, representing a 1.94% stake in its material subsidiary, Spice Money Ltd. The deal, valued at ₹4.5 crore, was executed through an agreement with Sood Infomatics LLP on February 20, 2025.

Spice Money, a tech-driven hyperlocal payments platform, reported a turnover of ₹439.43 crore and a net profit of ₹13.06 crore for FY24. The acquisition strengthens DiGiSPICE’s stake in the subsidiary while providing an exit for Sood Infomatics LLP.

The transaction, which does not fall under related party deals, is expected to be completed by March 31, 2025. Spice Money offers services such as Aadhaar-enabled payments, cash deposit/withdrawal, UPI-based solutions, and POS services, enhancing digital financial inclusion.

Recent news on DiGiSPICE Technologies:

As of February 21, 2025, Digispice Technologies Ltd reported a net loss of ₹19.59 crore for Q3 FY25, significantly widening from ₹1.14 crore in Q3 FY24, despite a 2.54% revenue rise to ₹112.98 crore from ₹110.18 crore.

Stock performance of DiGiSPICE Technologies for Period of 1 week, 6 months and 1 year:

Digispice Technologies Ltd has witnessed a challenging performance, with a 3.66% decline over the past week. The stock has dropped 37% in six months and 28.4% over the past year, reflecting continued volatility and investor caution in market trends.

Also Read: Automation stock jumps 15% after its subsidiary commences deliveries of autonomous EVs to warehousing clients in the USA

Shareholding pattern of DiGiSPICE Technologies:

ParticularsDec 2024Sep 2024Jun 2024
Promoter72.60%72.70%72.90%
FII0.00%0.00%0%
DII0%0%0%
Public27.40%27.30%27.10%
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About DiGiSPICE Technologies:

Digispice Technologies Ltd (NSE: DIGISPICE), part of the Spice Group, provides ICT solutions and telecom software. Through its subsidiary Spice Money, it offers fintech services, including digital payments, AEPS, POS, mini ATMs, and financial solutions for enterprises and individuals.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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