Digital Payments Provider Network People Services Technologies Raises ₹300 Crore From Tata Mutual Fund

Mumbai: Network People Services Technologies, a provider of digital payments and digital banking infrastructure, on Wednesday announced that it has raised over Rs 300 crore from Tata Mutual Fund.The fundraising was done through a preferential issue fully subscribed by Tata MF, and the fund house's holding will now increase to 9.42 per cent, as per an official statement.

The shares were allotted for Rs 2,074 per share. The NPST scrip closed 0.13 per cent down at Rs 1,534.60 apiece on the BSE on Wednesday.The funds will be deployed for innovation, infrastructure enhancement, and capability building in emerging technologies, as per an official statement.

A significant part of the capital will be used for global expansion, it said, adding that plans are afoot to enter Africa, the Middle East, Southeast Asia, and other fast-growing digital payment ecosystems."Our focus is to evolve into an AI-first payments technology company that brings smarter risk controls, better customer experiences, and more efficient processing to our partners. This investment enables us to deepen our work in emerging technologies and build platforms that are ready for the next decade of innovation," its chairman and managing director Deepak Chand Thakur said. 

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