PB Fintech, the promoter of Coverage Bazaar, on Wednesday mentioned its board has accredited the incorporation of a wholly-owned subsidiary to hold on the enterprise of fee aggregator.
The subsidiary known as ‘PB Pay Non-public Restricted’ would keep on the enterprise of fee aggregator’ home and/or cross border or each, as could also be permitted by the Reserve Financial institution of India, by facilitating retailers with offline and/or digital fee acceptance infrastructure or each, the corporate mentioned in a regulatory submitting.
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The paid-up share capital of the proposed firm could be Rs 27 crore, it mentioned.
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The applying for the method of incorporation of the proposed wholly-owned subsidiary could be filed and accomplished topic to approval from the related authorities, it mentioned.
