Tata Communications Completes Divestment of TCPSL to Findi's Indian Arm

Tata Communications do denounting complete divestment of TCPSL to Findi's Indian arm, value-enhancing fintech capacity building as well as digital payment services to India.

Tata Communications packs an exit for completely owned unit Tata Communications Payment Solutions Limited (TCPSL) to Transaction Solutions International (India) Pvt Ltd (TSI) which is part of the Findi family of an Australian fintech company now. The deal which ultimately worked out on INR 330 crore is now all done-the close date being February 28, 2025 after clearance from Reserve Bank of India (RBI).

The divestment came through November 2024, as it coincides with the strategic thrust of Tata Communications towards high-growth sectors such as cloud, cybersecurity, and media services. It also reconstructs the thrust for the company to become starker in its core technological areas of innovation.

This acquisition gives Findi a stronger foothold in fintech and digital payments broaden its reach in India. It enables Findi to establish a White Label ATM platform; a Payment Switch; and over 4,600 ATMs in the network. Findi now plans to build on this capacity and expand its merchant network with 180,000+ locations that are empowered underserved communities through enhanced access to financial services.

Employee, customer and partner transition facilitation would be achieved between Tata Communications and Findi if they can commit to the same. Kabir Ahmed Shakir, CFO, Tata Communications, is confident that further growth will happen in TCPSL under TSI, while Deepak Verma, CEO of Findi, spoke of the strategic impact of the acquisition on financial empowerment in India.