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FINWIRES

Delhivery to Set Up Fintech Subsidiary; Shares Fall 4%

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Delhivery (NSE:DELHIVERY, BOM:543529) secured board approval to incorporate a wholly owned subsidiary in India to operate in the financial and allied services segment, according to a Saturday filing on Indian bourses.

Shares of the logistics company fell nearly 4% in Monday's trade.

The proposed entity, Delhivery Fintech Distribution, will support the company's logistics network through financial distribution services, the filing said.

Delhivery will invest 10 million rupees in the subsidiary, it said.

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