Network People Services Technologies (NPST) announced that it has successfully raised more than Rs 300 crore through a preferential issue fully subscribed by Tata Mutual Fund.
The company has received listing approval from both NSE and BSE for 14,46,500 fully paid-up equity shares of face value Rs 10 allotted under the preferential issue. These shares were issued at Rs 2,074 per share, inclusive of a premium of Rs 2,064. The allotment was made exclusively to Tata Mutual Fund, which is categorised as a non-promoter investor. Following the issuance, Tata Mutual Fund's shareholding in NPST will increase to 9.42 %.
NPST operates as a technology service partner to banks, fintechs, and payment platforms. The company raised Rs 13.70 crore through its IPO in 2021 and has since expanded its client base from six banks to more than twenty regulated entities, while significantly strengthening its product suite and market presence.
The funds raised will be channelled towards NPST's strategic priorities that include product innovation, infrastructure enhancement, and capability building in emerging technologies. A significant part of the capital will support NPST's global expansion plans. The company is preparing to scale its footprint across Africa, the Middle East, Southeast Asia, and other fast-growing digital payment ecosystems. NPST aims to take its payments platform, which continues to be a major growth engine, into new segments and regions with use cases across collections, embedded finance, and digital banking.