I think the threshold is 25%. And there is a time limit within which they need to lower their ownership to 25%.
So similar to the CCDs bought by Piramal, where TSI has call options to those shares converted at IPO, TSI can raise cash at by selling those shares to institutional investors (both DII and FII have increased their ownership in CMS and AGS recently). This cash can be used to expand the reach of FindiPay to private credit.
Ann: FND FY24 Results Presentation, page-107
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Last
$5.11 |
Change
0.350(7.35%) |
Mkt cap ! $249.8M | |||
| Open | High | Low | Value | Volume |
| $4.93 | $5.22 | $4.84 | $1.307M | 258.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2305 | $5.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.15 | 4753 | 2 |
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| Last trade - 15.52pm 02/10/2024 (20 minute delay) ? |
| FND (ASX) Chart |