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ACQUISITIONS OF SUBSIDIARIES

12 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

ACQUISITIONS OF SUBSIDIARIES

ACQUISITIONS OF SUBSIDIARIES

Acquisition of Aviata

Aviata's preeminent position in the air and rail ticketing sectors makes it an important strategic asset to the Group as it works to develop a comprehensive digital fintech ecosystem in Kazakhstan.

On April 26, 2023, the Company completed the acquisition of Aviata by purchasing 100% of its outstanding shares.

As of April 26, 2023, the date of the acquisition of Aviata, the fair value of net assets of Aviata was $9,523. The total purchase price was allocated as follows:

			As of April 26, 2023
ASSETS
Cash and cash equivalents			$	448
Restricted cash			105
Brokerage and other receivables			1,313
Loans issued			1,078
Fixed assets			63
Intangible assets			8,779
Other assets			1,221
TOTAL ASSETS			13,007
LIABILITIES
Trade payables			1,606
Current tax liabilities			14
Other liabilities			1,864
TOTAL LIABILITIES			3,484
Net assets acquired			9,523
Goodwill			21,795
Total purchase price			$	31,318

Acquisition of Internet-Tourism

As of April 26, 2023 the Company completed the acquisition of Internet-Tourism by purchasing 100% of its authorized capital. The Company acquired Internet-Tourism in order to accelerate its growth in digital sector. The fair value of net assets of Internet-Tourism was $1,359 . The total purchase price was allocated as follows:

			As of April 26, 2023
ASSETS:
Cash and cash equivalents			$	523
Brokerage and other receivables			838
Loans issued			62
Fixed assets			89
Intangible assets			959
Other assets			591
TOTAL ASSETS			3,062
LIABILITIES
Trade payables			644
Other liabilities			1,059
TOTAL LIABILITIES			1,703
Net assets acquired			1,359
Goodwill			640
Total purchase price			$	1,999

Acquisition of Arbuz

As of March 31, 2023, the Company held a 25% equity interest in Arbuz. On April 14, 2023, the Company acquired an additional 5.42% of Arbuz's shares. On May 22, 2023, the Company purchased a further 8.36% of Arbuz's shares, resulting in a total equity interest of 38.78% in Arbuz. With the inclusion of Timur Turlov's individual ownership interest in Arbuz of 18.08% that was acquired before March 31, 2023, the Company effectively obtained control over Arbuz with its purchase on May 22, 2023. During three months ended December 31, 2023, the Company acquired additional 12.81% of Arbuz's shares resulting in total equity interest of 94.73% in Arbuz.

The fair value of Arbuz on the date of the acquisition was $11,685. The total purchase price was allocated as follows:

			As of May 22, 2023
ASSETS
Cash and cash equivalents			$	731
Brokerage and other receivables			591
Fixed assets			2,383
Intangible assets			15,154
Loans issued			157
Right-of-use assets			1,097
Other assets			5,002
TOTAL ASSETS			25,115
LIABILITIES
Trade payables			2,559
Current tax liabilities			11
Lease liability			1,186
Other liabilities			9,674
TOTAL LIABILITIES			13,430
Net assets acquired			11,685
Goodwill			14,961
Purchase price			13,281
Revaluation of purchase price previously held interest			1,040
Fair value of NCI			12,325
Total purchase price			$	26,646

Acquisition of ReKassa

As of July 26, 2023 the Company completed the acquisition of ReKassa by purchasing 90% of its authorized capital. The Company acquired ReKassa in order to accelerate its growth in digital sector. The fair value of net assets of ReKassa was $2,555. The total purchase price was allocated as follows:

			As of July 26, 2023
ASSETS
Cash and cash equivalents			$	654
Brokerage and other receivables			125
Loans issued			177
Fixed assets			14
Intangible assets			1,680
Other assets			11
TOTAL ASSETS			2,661
LIABILITIES
Trade payables			15
Lease liabilities			42
Other liabilities			49
TOTAL LIABILITIES			106
Net assets acquired			2,555
Goodwill			560
Purchase price			2,600
Non-cash consideration			259
Fair value of NCI			256
Total purchase price			$	3,115

Acquisition of DITel

As of January 9, 2024 the Company completed the acquisition of DItel by purchasing 100% of its authorized capital.

The Company acquired DItel as part of its strategy to enter the telecommunications sector in Kazakhstan. The fair value of net assets of DItel was $ 1,056. The total purchase price was allocated as follows:

			As of January 9, 2024
ASSETS
Cash and cash equivalents			$	3
Brokerage and other receivables			29
Fixed assets			132
Intangible assets			858
Other assets			62
TOTAL ASSETS			1,084
LIABILITIES
Trade payables			7
Other liabilities			21
TOTAL LIABILITIES			28
Net assets acquired			1,056
Goodwill			47
Total purchase price			$	1,103

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- References

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- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479907/805-20-50-5

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//805/tableOfContent

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