Capital India Finance announces acquisition of Credenc

Capital India Finance Limited announced the acquisition of Credenc Web Technologies Private Limited (Credenc).

According to the Company’s exchange filing, “We would like to inform that Capital India Home Loans Limited, a material subsidiary of the Company has acquired 100% (One Hundred percent) shareholding of Credenc Web Technologies Private Limited (“Credenc”) from its existing shareholders.”

“Consequent to the acquisition as aforesaid, Credenc and its wholly-owned subsidiary, Credenc Finserv Private Limited, have become subsidiaries of the Company with effect from August 19, 2021.” it said.

The acquisition will provide new opportunities to the Company in the education financing segment through its material subsidiary, the company said.

Credenc provides a platform to finance meritorious students for their college expenses by underwriting their employability, rather than the means available to their families.

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News Desk

HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com. 

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