Findi Secures A$25m to Slash Debt and Boost ATM Expansion in India
Findi Limited has raised A$25 million through an institutional placement to refinance its Indian subsidiary’s balance sheet, reduce debt, and accelerate its ATM rollout and digital payments growth.
- A$25 million placement to institutional investors at 70 cents per share
- Refinancing unlocks A$33.25 million cash and cuts gross debt and interest costs by about A$3 million annually
- Findi’s ownership in TSI rises to approximately 91%, up from 46% under prior Nova deal
- Placement funds immediate deployment of SBI and CBI Brown Label ATMs and UBI rollout starting 2H 2026
- Enhanced liquidity to support BankIT transaction growth and White Label cash operations
Findi’s Strategic Capital Raise
Digital payments provider Findi Limited (ASX: FND) has successfully completed a A$25 million institutional placement, marking a pivotal step in strengthening its financial position and growth prospects in India. The placement, priced at 70 cents per share; a discount to recent trading; was well supported by sophisticated and institutional investors, reflecting confidence in Findi’s strategy and market opportunity.
This capital injection is primarily aimed at refinancing the balance sheet of Findi’s Indian subsidiary, Transaction Solutions International (TSI). The refinancing is expected to unlock approximately A$33.25 million in restricted cash, while materially reducing gross debt and trimming annual interest expenses by around A$3 million. This improved financial footing provides Findi with greater flexibility to pursue its expansion plans.
Ownership and Growth Strategy Shift
Significantly, the placement enables Findi to increase its ownership stake in TSI to about 91%, a substantial rise from the 46% stake that would have resulted from the previously proposed Nova transaction. By opting out of the Nova deal, Findi avoids dilution at the TSI level and retains tighter control over its Indian operations.
The fresh capital will be deployed to accelerate the rollout of SBI and CBI Brown Label ATMs, with immediate deployment underway. Additionally, Findi plans to commence the UBI ATM rollout in the second half of 2026. These initiatives are designed to expand Findi’s footprint in India’s rapidly growing digital payments ecosystem.
Enhancing Platform Liquidity and Market Position
Beyond physical infrastructure, the placement funds will enhance platform liquidity to support increased transaction volumes through BankIT services and enable twice-daily White Label cash indents. This operational scaling is expected to drive higher transaction throughput and market share gains.
Executive Chairman Nicholas Smedley emphasised that the capital raise not only strengthens Findi’s balance sheet but also positions the company well for its targeted Indian IPO. The company is now better equipped to capture growth opportunities as India’s digital payments sector continues its rapid expansion.
Looking Ahead
The placement shares will be issued in two tranches, with the second tranche subject to shareholder approval expected in April. Settlement and quotation of the first tranche are scheduled for mid-March, ensuring timely access to funds.
With refinancing completed and growth capital secured, Findi’s next chapters will focus on execution of its ATM rollout programs, scaling transaction volumes, and progressing IPO preparations. The market will be watching closely to see how these initiatives translate into operational and financial performance in the coming quarters.
Bottom Line?
Findi’s capital raise and refinancing mark a decisive step toward scaling its Indian operations and preparing for a landmark IPO.
Questions in the middle?
- How will the increased ownership in TSI impact Findi’s strategic control and future earnings?
- What are the key risks and timelines associated with the planned UBI ATM rollout in 2H 2026?
- How might the refinancing and reduced debt influence Findi’s valuation ahead of the proposed Indian IPO?
