• $25m institutional equity placement to accelerate business plan, refinance debt, and release restricted cash
• Retains majority ownership in subsidiary Transaction Solutions International (India) Pvt Ltd
• Enables restart of SBI and CBI Brown Label ATM contracts and expansion of digital payments platform BankIT

Findi Ltd has announced the completion of a A$25 million institutional equity placement. The funds will be used to accelerate the delivery of Findi's business plan, refinance debt facilities, and release restricted cash while retaining Findi's majority ownership interest in its subsidiary Transaction Solutions International (India) Pvt Ltd (TSI). The placement will enable Findi to recommence the deployment of capex for the SBI and CBI Brown Label ATM contracts, accelerate the refurbishment and redeployment of white label ATMs, and provide growth capital for Findi's digital payments platform BankIT to capture increased market share. The placement avoids dilution and strengthens Findi's balance sheet, providing the company with negotiating power for current and future transactions. Findi had previously announced a potential INR 418 crore strategic investment from Nova Global, which would have diluted Findi's ownership in TSI to around 46%. The A$25 million placement gives Findi the opportunity to negotiate better terms or not proceed with the Nova Strategic investment, with Findi's existing shareholders estimated to be around 27% better off under the placement scenario.