India, Sept. 1 -- Fintech soonicorn Niyo has signed a definitive agreement to acquire the forex and cross-border payments business of listed financial services company Capital India Finance, operated under the RemitX brand, for Rs.11.4 Cr.

The transaction will be undertaken through Niyo's wholly owned subsidiary Kanji Forex Pvt Ltd, which operates under an RBI Authorised Dealer Category-II (AD-II) licence.

Capital India Finance's board yesterday approved the transfer of assets related to RemitX to Kanji Forex. The transaction is expected to be completed by October 31, 2026, subject to regulatory approvals and the fulfilment of other conditions.

Following the completion of the deal, Capital India Finance will apply to surrender its AD-I...