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NPST Raises Rs 300 Cr from Tata MF
3 Dec
Summary
- NPST successfully raised over Rs 300 crore via preferential issue.
- Tata Mutual Fund is the sole investor, increasing its stake to 9.42%.
- Funds will fuel global expansion and product innovation in payments.
Network People Services Technologies (NPST) has announced the successful completion of a preferential issue, securing more than Rs 300 crore. The entire amount was subscribed by Tata Mutual Fund, a non-promoter investor, which will now hold a 9.42% stake in NPST.
The capital infusion is earmarked for advancing NPST's strategic objectives. These include significant investments in product innovation, bolstering its technological infrastructure, and enhancing capabilities in emerging technology sectors. This will also support the company's aggressive global expansion plans.
NPST aims to extend its market presence across Africa, the Middle East, and Southeast Asia, leveraging its robust payments platform. The company intends to introduce its payment solutions to new segments and regions, catering to use cases in collections, embedded finance, and digital banking.
