Shares of Niyogin Fintech surged 6.81% to ₹60.50 on Friday morning after the company announced that its material unlisted subsidiary, Iserveu Technology, secured a significant five-year contract with the Central Bank of India. The deal, valued at USD 10 million, aims to enhance the bank’s merchant acquiring operations across India.

Under the agreement, Iserveu will deploy and manage UPI-enabled soundboxes while delivering a comprehensive technology stack. This includes a merchant app, a robust soundbox platform, and a full-scale back-office portal with merchant support. The initiative is expected to strengthen the Central Bank of India’s digital payment infrastructure and merchant engagement capabilities.

At 10:27 AM, Niyogin Fintech’s stock was trading at ₹60.50, up ₹3.86 from the previous close of ₹56.64, with a market capitalization of ₹6,730 crore. The stock hit an intraday high of ₹60.89 and a low of ₹58.00 in early trade.

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