Veefin Solutions Limited, through its subsidiary Infini Systems Limited, has announced its intent to acquire up to 49% equity in White Rivers Media Solutions Private Limited. This strategic investment aims to strengthen Veefin’s position in the digital marketing and advertising sector while enhancing operational efficiency and revenue growth.
White Rivers Media, incorporated in 2016, has established itself as a leader in digital marketing, offering innovative advertising solutions. With a strong financial performance, the company reported a turnover of ₹113.85 crores for the financial year ending March 2024, reflecting steady growth over the past three years. Veefin’s acquisition, valued at ₹166.6 crores, will be executed through a combination of cash and equity share swap.
This move is not categorized as a related party transaction, and there is no existing interest from Veefin’s promoter group in White Rivers Media. The acquisition, expected to be completed within 30 to 60 days, will grant Veefin majority board control, enabling seamless integration of White Rivers Media’s expertise with Veefin’s financial and technological strengths.
This acquisition marks a significant milestone for Veefin Solutions Limited, reinforcing its commitment to diversification and expansion in high-growth sectors.
In the meantime, Veefin Solutions’ stock opened today at ₹526.00, matching its day’s high, before dipping to a low of ₹501.00. The company’s 52-week range spans from ₹245.00 to ₹753.90, reflecting significant market movement.
