Mumbai, Sept. 12 -- Indiabulls has executed a definitive agreement with Fintech Cloud (target company), a company engaged in the business of providing technology-enabled solution and support for origination, underwriting and servicing to NBFCs, inter-alia, to acquire 70% of the issued, subscribed and paid-up equity share capital of the target company for a consideration of Rs. 1050 crore basis its equity valuation of Rs. 1500 crore by way of an NCLT Scheme involving the Company and the shareholder(s) holding 70% shares of the target company, and to appoint, with immediate effect, the majority of the directors on the Board of the target company.

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