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PayU has been seriously exploring a buyout in offline space for quite some time now. It also had talks with two other companies.
Prosus' latest annual report had showed that it added another 26.5% stake to raise its ownership to 70% for $72 million.
PayU India's adjusted earnings before interest and taxes (EBIT) loss rose by 38% to $44 million during FY25 from $32 million in FY24.
As a part of this deal, PayU will acquire a 43.5% stake in Mindgate, while the majority ownership will remain with the company's founders.
The acquisition signals PayU's strategic move to gain a competitive edge in the rapidly expanding UPI market.
