Bharti Airtel divests stake in Seynse Technologies

The stake was held through Bharti Airtel's wholly-owned subsidiary Nettle Infrastructure Investments Limited.

Bharti Airtel (Reuters)

Telecom operator Bharti Airtel has divested its stake in Seynse Technologies, according to a regulatory filing.

The stake was held through Bharti Airtel's wholly-owned subsidiary Nettle Infrastructure Investments Limited.

The divestment of 6,824 equity shares was for a cash consideration.

"...the company has divested its stake in Seynse Technologies Private Limited held through Nettle Infrastructure Investments, a wholly-owned subsidiary of the company," Bharti Airtel said in a late evening filing on Thursday.

It, however, did not disclose the price at which the shares were divested "for the reasons of confidentiality".

Seynse is a financial technology company that has created Loan Singh platform.

Loan Singh is a digital lending platform aimed at making credit easily accessible to millions of creditworthy yet under-served Indians, it informed.

Annual turnover of Seynse as on March 31, 2020 stood at ₹62.5 lakh.