Rajani Associates assists BANKIT on ₹160 crore acquisition by TSI

Rajani Associates has acted for and advised Bankit Services Private Limited and its selling shareholders on the acquisition of the entire share capital of the Company by Transaction Solutions International (India) Private Limited for ₹160 crore.

Prem Rajani (Managing Partner) worked on the Share Purchase Agreement, and Pearl Boga Nagarwalla (Associate Partner), along with Rashi Rajani (Senior Associate) and Kriti Bhatt (Associate) worked on several ancillary documents.

The deal significantly expands TSI's presence in India, bringing BANKIT’s 1.29 lakh-strong merchant network across over 12,000 pin codes into its ecosystem. Post-acquisition, Findi now supports more than 1.8 lakh merchants nationwide.

The company plans to leverage this network to build a hybrid financial platform combining ATMs, merchant-led services, and digital banking, with a long-term vision of becoming a full-fledged Payments Bank. This acquisition complements TSI’s recent ₹243 crore institutional fundraise and its earlier acquisition of Tata Communications Payment Solutions Ltd (TCPSL), operator of the Indicash ATM brand.

BANKIT is a leading fintech company dedicated to fostering financial inclusion and empowerment. Our innovative platform offers an array of services including: Domestic Money Transfer (DMT), Aadhaar Enabled Payment System (AePS), Micro ATM, Bill Payments and Recharge, Travel Services, Insurance Services etc.

A majority owned subsidiary of the Australian listed entity Findi (ASX: FND), TSI financially empowers the underbanked and the underserved through its pan India network of 60,000+ services locations that provide access to cash and payment services. Keeping Trust, Accessibility and Technology at its core, TSI brings financial inclusion to Indians without access to digital services in collaboration with 12 major Indian banks.

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