LKP Finance Limited has announced the acquisition of equity shares in Mufinpay Payment Solutions Private Limited through a private placement, as disclosed in a regulatory filing dated January 7, 2026. The transaction represents a strategic move by the financial services company to expand its market presence in the technology sector and enhance its IT and loyalty services business capabilities.

Acquisition Details

The acquisition involves the purchase of 2,40,000 equity shares in Mufinpay Payment Solutions Private Limited. The shares carry a face value of ₹10.00 each and are being acquired at a premium of ₹4,990.00 per share, bringing the total acquisition price to ₹5,000.00 per share.

Target Company Profile

Mufinpay Payment Solutions Private Limited operates in the Information Technology and IT-enabled services sector, with a focus on reward and loyalty programmes for corporates in both physical and digital formats. The company was incorporated on May 5, 2022, under the Companies Act, 2013.

Strategic Rationale

The acquisition is positioned to support LKP Finance's expansion into new markets while strengthening its overall market presence. The transaction enhances the company's long-term growth prospects and strategic positioning in the evolving financial services landscape, particularly in IT and loyalty services business segments.

Regulatory Compliance

The transaction has been structured as a related party deal, as Mufinpay is a subsidiary of the promoter company. LKP Finance has confirmed that the acquisition is conducted on an arm's length basis, ensuring compliance with regulatory requirements. No governmental or regulatory approvals are required for this acquisition, and no specific timeline for completion has been indicated.

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

LKP Finance has executed a strategic acquisition of a stake in Gyftr (Vouchagram Private), signaling a fundamental transformation from its traditional NBFC-led business model toward a comprehensive platform-driven fintech ecosystem. This move positions the company to capitalize on India's rapidly expanding digital payments, rewards, and transaction-led services market.

Strategic Business Transformation

As part of this strategic pivot, LKP Finance has applied to surrender its NBFC licence, demonstrating its commitment to focus exclusively on scalable fintech operations. This decision reflects the company's intention to move away from traditional financial services toward more dynamic, technology-driven solutions.

The acquisition structure leverages existing relationships and ownership patterns to create operational synergies:

Market Opportunity and Growth Potential

The combined platform is strategically positioned to capture significant opportunities in India's loyalty and rewards ecosystem. The market presents compelling growth dynamics across multiple segments:

These growth projections are driven by enterprise incentives, BFSI-led rewards programs, and increasing digital adoption across consumer segments.

Leadership Vision and Strategic Direction

Arvind Prabhakar, CEO of Gyftr, emphasized that the investment "validates Gyftr's vision of building digital rewards infrastructure" and will enable rewards to become "an essential component of regular financial and business processes rather than just a promotional tool." This perspective highlights the evolution from traditional promotional rewards to integrated business solutions.

Kapil Garg, Promoter Managing Director of LKP Finance, noted that the integration "creates a powerful synergy promoting high-frequency digital reward use cases and regulated payment rails." This combination enables the platform to scale operations, enhance consumer engagement, and explore new revenue streams.

Platform Integration and Service Offerings

The acquisition creates a comprehensive ecosystem where Gyftr's digital gift cards and incentive systems integrate seamlessly with Mufin Pay's licensed payment infrastructure. This integration enables the development of programmable value instruments with applications across:

• Employee benefits and corporate incentive programs
• Customer loyalty and retention initiatives
• Enterprise-wide incentive management systems
• Strategic engagement tools beyond seasonal promotions

The digital gifting market is experiencing significant evolution, transforming from traditional seasonal promotions to strategic engagement tools that integrate with payments, loyalty programs, and comprehensive employee incentive structures. This transformation positions the combined platform to capture value across multiple business verticals and use cases.