Pine Labs Limited on Tuesday informed stock exchanges that it has received approval from the Reserve Bank of India (RBI) for its wholly owned subsidiary, BrokenTusk Technologies Private Limited (Setu), to increase its stake in Agya Technologies Private Limited to 100%.
According to the regulatory filing, the RBI has cleared the acquisition of the remaining stake in Agya Technologies, which is currently an associate company of Setu. Agya Technologies holds an RBI authorisation to operate as a Non-Banking Financial Company – Account Aggregator (NBFC-AA), a regulated entity in India’s financial data-sharing ecosystem.
Following the receipt of the approval, Setu plans to complete the acquisition of the entire equity stake in Agya Technologies in the near future. The company noted that the transaction may be executed in one or more tranches, in line with regulatory requirements. As mandated under RBI’s Non-Banking Financial Companies – Acquisition of Shareholding or Control Directions dated November 28, 2025, a public notice regarding the acquisition will be published separately in both local and national newspapers.
Pine Labs stated that the development has been disclosed to both BSE Limited and the National Stock Exchange of India Limited and that the information will also be made available on the company’s investor relations website. The filing was signed by Neerav Mehta, Company Secretary and Compliance Officer of Pine Labs Limited.
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