ASX-listed payment provider Findi, backed by Wilson Asset Management and … Continued
31 January 2024
Need to know
- Listed exposure to growing Indian fintech market
- Large ATM footprint generating significant cashflow for returns and reinvestment in digital banking services
- New funding shows potential valuation read through
Direct exposure to a global emerging market: Findi is the only Australian listed company that provides direct access to the emerging Indian fintech market, which services 1.4 bn people (~25% remain unbanked) and remains heavily dependent on cash transactions. Findi’s strong ATM network is highly cash generative and supports its digital services growth, diversifying the business.
Key partnerships with major market players: Findi’s 20.5k ATM network is underpinned by two highly significant agreements – with the State Bank of India and the Central Bank of India. 80% of Findi’s revenue base is contracted, with the average contract length almost 5 years, aiding earnings certainty.
Recent funding agreement: Findi’s 100% owned Indian subsidiary, TSI India, raised A$37.6m via Compulsory Convertible Debentures (CCDs) from leading Indian investment group, Piramal Alternatives (owned by Canada’s largest pension fund, CDPQ). Upon an expected TSI IPO, the CCDs will convert to ~16.7% of equity, implying a total market cap for TSI India of ~A$225m…
You might also be interested in
Cash Still King; Digital on the Rise
Need to know Listed exposure to growing Indian fintech market … Continued
‘India is where China was in 2006’ – Here are Banyantree’s top three India-focused stocks
Banyantree says HDFC is one India’s largest banks and will … Continued
The new Middle Kingdom – Why Banyantree thinks India is like China in 2006
Banyantree Investment Group growth says India has all the elements … Continued
H&G’s stocks to watch | Shekel weighs up growth | Findi cashes in(dia)
Chris Steptoe of DMX Asset Management tells why Findi Ltd (ASX: FND) could be a buy today. Is Findi share price undervalued?
Findi, a multi-bagger in waiting?
This tech stock is having a day to remember on Wednesday and has hit a 52-week high. The Findi Ltd (ASX: FND) share price has been catching the eye on Wednesday after returning from a trading halt.
With A Return On Equity Of 11%, Has Findi Limited’s (ASX:FND) Management Done Well?
Chris Steptoe of DMX Asset Management tells why Findi Ltd (ASX: FND) could be a buy today. Is Findi share price undervalued?
Financial News Network
Chairman Nicholas Smedley discusses the details that its Indian subsidiary … Continued