Novus Loyalty to acquire 80.87% stake in AutoPe for Rs 105 crore
AutoPe Payment Solutions earlier used to run and manage IRCTC's i-Pay offering. The mandate is now won by another payments company.
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Novus Loyalty, a loyalty and rewards provider, is acquiring an 80.87% stake in AutoPe Payment Solutions Ltd for Rs 105 crore, valuing the payments company at Rs 130 crore.
The acquisition will be completed in tranches, Novus Loyalty said. The first tranche is targeted for completion through a definitive share purchase agreement, with the remaining stake expected to be acquired within approximately 10 months.
“The strategic acquisition strengthens Novus Loyalty’s presence across the fintech and digital payments landscape and opens new avenues for technology-led growth and ecosystem expansion,” the company said.
AutoPe Payment Solutions, which previously powered IRCTC’s i-Pay offering, reported revenue of Rs 62.10 crore and a profit after tax of Rs 13.60 crore in FY25. The IRCTC business was one of AutoPe’s key revenue drivers.
IRCTC has since obtained its own payment aggregator licence and moved to build its in-house payments capabilities. Last year, it invited bids for a technical service provider to deliver end-to-end payment gateway and aggregator services, including hosting, development, operations, maintenance and upgrades. AurionPro has won the mandate.
The acquisition is subject to due diligence and statutory and regulatory approvals.