Virtual Galaxy Approves Two ₹45 Crore Related-Party Transactions With Group Companies

Board approved material related-party transactions of Rs 45 Cr each with group companies Finverse Private Limited and Paynext Private Limited, subject to member and regulatory approvals. It also approved reallocation of unutilised IPO proceeds toward data-centre upgrades, marketing and working capital, and appointed fintech and digital-payments veteran Sunil Kulkarni as Additional Non-Executive Director until the next AGM. The director appointment strengthens expertise for the proposed Payment Aggregator and PPI businesses, extending the company’s payments and digital-infrastructure strategy. The related-party transactions could support operating requirements but are material relative to the company’s scale. Both related-party transactions and IPO-object variation require shareholder approval; pricing, transaction rationale, use-of-funds quantum and expected financial benefits were not disclosed. Reallocation reduces funds previously earmarked for product manpower and business develo