Findi Limited (ASX: FND), a digital payments and financial services provider, announced the successful completion of its Share Purchase Plan (SPP), raising a total of $4,547,000. The SPP, initially announced on March 20, 2025, and detailed in the offer booklet dated March 27, 2025, closed on April 11, 2025. The company will issue 1,136,750 fully paid ordinary shares to SPP applicants. Simultaneously, Findi has secured an additional $453,000 through a placement on the same terms as the SPP.
The aggregate funds of approximately $5 million will be strategically allocated to several key initiatives. A significant portion will address capital expenditure requirements associated with the deployment of 2,293 ATMs under the new agreement with the State Bank of India, supplementing existing cash reserves and debt facilities. Furthermore, the raised capital will accelerate the rollout of White Label ATMs following the TCPSL acquisition, aiming to expand deployment and foster market growth. Finally, a portion of the funds will be utilized to cover the costs associated with restructuring the Piramal Compulsory Convertible Debentures (CCDs).
Executive Chairman Nicholas Smedley expressed gratitude to shareholders for their support during this growth phase. He also highlighted the company’s aspirations for a proposed Indian IPO of TSI, potentially marking Findi as the first Australian-owned company to list in India with unicorn status. Findi’s strategic capital allocation underscores its commitment to expanding its ATM network, leveraging recent acquisitions, and optimizing its financial structure, paving the way for sustained growth and market leadership in the digital payments sector.
