Pine Labs Limited has invested Rs 128.99 crore in its wholly owned subsidiary, Synergistic Financial Networks Private Limited (SFNPL), through a rights issue, according to a regulatory disclosure filed with stock exchanges.
The investment involved the subscription of 2,57,330 equity shares and was made entirely in cash. Following the transaction, SFNPL continues to remain a wholly owned subsidiary of Pine Labs, with no change in the company’s shareholding structure.
SFNPL operates in the financial technology space, providing payment processing services, end-to-end technology-integrated solutions and transaction-related infrastructure. The subsidiary was incorporated in March 2008 and has built a strong operating presence in India.
The primary objective of the capital infusion is to meet SFNPL’s working capital requirements, support future growth initiatives and enable further investments in its step-down subsidiaries. No regulatory or governmental approvals were required for the transaction.
Post-investment, SFNPL’s paid-up capital stands at Rs 3.13 crore. The company reported a turnover of Rs 1,983.9 crore for the financial year ended March 31, 2025, reflecting steady revenue growth over the past three years.
Pine Labs stated that the transaction does not qualify as a related-party transaction and that there is no promoter or group interest involved in the investment.
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