• Findi secures additional 2,293 ATMs with State Bank of India
• Estimated to deliver $250-$270 million in revenue and $125-$135 million in EBITDA over 10 years
• Rothschild & Co appointed as financial advisor for Findi India's 2026 IPO

Findi Limited (ASX: FND), a digital payments and financial services provider, has announced that its majority-owned subsidiary, Transaction Solutions International (India) Pvt Ltd (TSI), has secured an agreement with the State Bank of India (SBI) for the deployment of an additional 2,293 ATMs. This represents a 54% increase to the 4,219 ATMs awarded to Findi in October 2023. The new SBI Agreement is expected to deliver between $250-$270 million in revenue and between $125-$135 million in EBITDA over the extended contract period of 10 years (7 years with a 3-year extension). The roll-out of the new ATMs will commence in October 2025 and is expected to be completed by March 2026. Findi has also announced the appointment of Rothschild & Co as the financial advisor for the 2026 IPO of its Indian subsidiary, Findi India. Rothschild is a global leader in Equity Capital Markets and IPOs, and the appointment is a key milestone for Findi's aspiration of delivering a billion-dollar listing as it continues to drive financial inclusion for the unbanked across India. The completion of the acquisition of Tata Communications Payment Solutions Ltd (TCPSL or Indicash) has, however, deferred Findi's White Label ATM (WLA) licence and revenue commencement. As a result, FY25 revenue is now expected to be in the range of $68-$70 million, compared to the previous guidance of $80-$90 million. FY25 EBITDA guidance has been revised to $30-$32 million, within the previously stated range of $30-$35 million.

FY25 revenue guidance of $68-$70 million and FY25 EBITDA guidance of $30-$32 million.

Findi is anticipating strong contributions from organic growth and acquisitions as it works towards the IPO of Findi India in 2026.