Oxyzo just paid ₹42.4 crore via a share-swap to acquire GoldenPi, a fixed-income investment platform. The lending arm of OfBusiness wants a direct play in retail wealthtech and fixed income, expanding beyond corporate debt. This pits them against established players like Zerodha's Rainmatter, which was also an investor in GoldenPi.
How We Got Here
Oxyzo launched its maiden credit fund in March this year, signalling its intent for broader financial services plays. GoldenPi, founded in 2017, built a network of 16 lakh users, processing ₹6,000 crore in bond and debenture investments.
The Numbers
- Oxyzo issued 3.11 lakh equity shares at ₹1,353 per share as part of the acquisition.
- GoldenPi founders Abhijit Roy and Samir Baran Pratihar received 1.15 lakh and 1.14 lakh shares respectively.
- Zerodha's Rainmatter Capital, an existing GoldenPi investor, received 53,422 Oxyzo shares worth ₹7.3 crore.
- GoldenPi operates a SEBI-licensed debt broker subsidiary, GoldenPi Securities.
What Happens Next
🇮🇳 Why This Matters for India
For retail HNI investors in metros like Mumbai and Delhi looking beyond traditional equity, this acquisition offers a new gateway into fixed-income instruments.
The Take
This deal is about customer acquisition and diversification, not just a product play. Expect Oxyzo to aggressively cross-sell its lending products to GoldenPi’s 1.6 million bond investors, shifting its focus more firmly towards an integrated wealth and lending platform.
Source:
Inc42 ↗