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.
