Indiabulls to Acquire 70% Stake in Fintech Cloud for ₹1,050 Crore, Enters NBFC Technology Segment
Indiabulls Limited, formerly known as Yaari Digital Integrated Services Limited, has announced a major strategic move to enter the fintech segment through the acquisition of a 70% stake in Fintech Cloud Private Limited.
The company executed a definitive agreement with Fintech Cloud on September 11, 2026, under which Indiabulls will acquire 70% of the target company’s equity at an implied equity valuation of ₹1,500 crore.
The transaction values the 70% stake at ₹1,050 crore and is proposed to be implemented through an NCLT-approved scheme.
Indiabulls to Acquire 70% of Fintech Cloud
Under the proposed transaction, Indiabulls will acquire 70% of the issued, subscribed and paid-up equity share capital of Fintech Cloud Private Limited.
The acquisition will also give Indiabulls immediate control over the target company’s board, with the company set to appoint a majority of directors.
The transaction is subject to the required regulatory and shareholder approvals.
₹1,050 Crore Acquisition Through Share Issuance
Interestingly, the acquisition will not be settled through a conventional cash payment.
Indiabulls plans to issue up to 21 crore fully paid-up equity shares to the shareholders holding the 70% stake in Fintech Cloud.
The share issuance will take place pursuant to an NCLT-approved Scheme of Amalgamation, subject to applicable pricing regulations, including SEBI ICDR regulations.
The agreed consideration for the 70% stake is ₹1,050 crore, implying a total equity valuation of approximately ₹1,500 crore for Fintech Cloud.
Fintech Cloud: What Does the Company Do?
Fintech Cloud operates in the technology solutions segment and acts as a Loan Service Provider (LSP) for various regulated entities.
Its technology-enabled platform provides solutions and support to NBFCs across areas including:
- Loan origination
- Underwriting
- Loan servicing
- Technology-enabled lending support
The acquisition therefore provides Indiabulls with an entry point into the growing fintech infrastructure and NBFC technology ecosystem.
Fintech Cloud Reported ₹133.77 Crore Revenue in FY26
One of the key points in the announcement is the sharp increase in Fintech Cloud’s business during FY2025-26.
The company reported:
- FY2023-24 revenue: Nil
- FY2024-25 revenue: Nil
- FY2025-26 revenue: ₹133.77 crore
- FY2025-26 PBT: ₹30.31 crore
The company therefore generated approximately ₹133.77 crore of revenue and ₹30.31 crore profit before tax in FY26, despite reporting nil turnover in each of the previous two financial years.
This rapid scale-up is an important factor for investors to monitor as Indiabulls integrates the business.
Why Is the Acquisition Important for Indiabulls?
The transaction represents more than a simple investment. According to the company, the acquisition will enable Indiabulls to enter the fintech segment through a business providing technology solutions to NBFCs.
This could potentially diversify the company’s business profile toward technology-enabled financial services infrastructure.
The target’s existing relationships with regulated NBFCs could also provide Indiabulls with an operating platform in the fintech ecosystem.
However, investors will need to assess whether the sharp revenue growth reported by Fintech Cloud can be sustained after the acquisition.
No Related Party Transaction
Indiabulls stated that the proposed acquisition does not constitute a related party transaction.
The company also disclosed that its promoter, promoter group and group companies do not have any interest in Fintech Cloud.
Regulatory Approvals Required
The transaction will require several approvals before completion.
These include approvals from:
- NCLT
- SEBI
- Stock exchanges
- Shareholders
- Other applicable regulatory authorities
The company currently expects the acquisition process to take approximately 9 to 12 months.
Indiabulls to Take Immediate Board Control
While the acquisition of the 70% equity stake will be completed pursuant to the NCLT-approved scheme, Indiabulls will have a significant governance role.
The company will appoint a majority of the directors on the board of Fintech Cloud with immediate effect.
This provides Indiabulls with control over the target company’s board even as the broader regulatory process for the transaction continues.
Key Investor Takeaways
For investors, the transaction has several important aspects.
1. Strategic entry into fintech:
Indiabulls is moving into technology-enabled financial services through a company serving regulated NBFCs.
2. Large ₹1,050 crore transaction:
The acquisition represents a substantial strategic investment relative to the target’s FY26 revenue.
3. Share-based consideration:
Up to 21 crore Indiabulls shares will be issued to the sellers, making potential dilution an important factor for existing shareholders to monitor.
4. Rapid business growth:
Fintech Cloud moved from nil reported turnover in FY24 and FY25 to ₹133.77 crore revenue in FY26, along with ₹30.31 crore PBT.
5. ₹1,500 crore implied valuation:
The transaction implies an equity valuation of ₹1,500 crore for Fintech Cloud.
6. 9–12 month completion timeline:
The acquisition still needs NCLT, SEBI, stock exchange, shareholder and other applicable approvals.
What Investors Should Watch Next
The key question now is whether Fintech Cloud can maintain its rapid growth and profitability.
Investors should closely monitor the company’s future disclosures on:
- Revenue growth after acquisition
- Profitability and margins
- NBFC client additions
- Loan origination and servicing volumes
- Technology platform expansion
- Integration with Indiabulls
- Impact of the proposed 21 crore share issuance
- Final regulatory approvals
- Valuation and financial performance of the acquired business
The transaction could become an important step in Indiabulls’ business transformation, but the execution of the acquisition, dilution from the proposed share issuance and sustainability of Fintech Cloud’s FY26 performance will be critical factors for shareholders.
Bottom Line
Indiabulls’ proposed acquisition of 70% of Fintech Cloud for ₹1,050 crore marks a significant move into the fintech and NBFC technology space.
Fintech Cloud’s FY26 performance of ₹133.77 crore revenue and ₹30.31 crore PBT, after reporting nil turnover in the preceding two financial years, makes the transaction particularly noteworthy.
For Indiabulls shareholders, the opportunity lies in gaining exposure to a fast-growing fintech business, while the key risks include execution, valuation, potential equity dilution and the ability of Fintech Cloud to sustain its recent growth trajectory.
Source: Company disclosure dated September 11, 2026.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Investors should conduct their own research and evaluate the company’s financials, valuation, risks and regulatory developments before making any investment decision.