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Tata Communications Shares Surge 1% as RBI Approves Stake Sale

This acquisition will greatly expand Findi's presence in the financial services industry in India.

Shares of Tata Communications Ltd were trading in the green and 1.8% higher on 4 February after the company received approval from the Reserve Bank of India (RBI) to sell100% stake in its wholly-owned subsidiary, Tata Communications Payment Solutions Limited (TCPSL) and sell it to the Australian fintech firm Findi’s Indian subsidiary, Transaction Solutions International (TSI).

According to Tata Communications’ share purchase agreement, this strategic deal, which was announced in November 2024, is worth Rs 330 crore, with an extra Rs 75 crore subject to certain conditions.

This acquisition will greatly expand Findi’s presence in the financial services industry in India, with a focus on the ‘underbanked’ population,the paper stated.

It advances TSI’s goal of becoming a full-fledged payments bank by utilizing its current network of more than 7,500 automated teller machines (ATMs), including “brown label” ATMs connected to 12 banks.

With the expansion of its portfolio to over 12,000 ATMs, Findi will rank among the largest ATM operators in Asia.

As part of the partnership, more than 4,600 operational Indicash ATMs will be integrated, increasing Findi’s customer base and service offerings across a number of categories.

Findi announced this as its second significant purchase after acquiring digital payments operator BankIT in 2025. In 2008, Findi was India’s first white-label ATM network operating under the Indicash brand.

TCPSL, which was also established in 2008, is able to exit the ATM business and focus on other financial services thanks to this agreement, which aligns with RBI’s objective of expanding ATM penetration throughout India.

“This acquisition is a cornerstone in our strategy to enhance financial inclusion in India,” said Deepak Varma, CEO, Findi.

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