The Chennai-based Financial Software & Systems plans to tap the stock market in two years to raise ₹1,000 crore to ₹1,200 crore. This is to fund the next phase of growth and provide an exit route for some of the existing investors.
The payments technology and transactions processing provider, in which Wipro Chairman Azim Premji invested last December, has been valued at around ₹2,200 crore, said Nagaraj V Mylandla, Founder and Managing Director, FSS.
Jacob Ballas Capital India Pvt Ltd, New Enterprise Associates, Inc and Premji Invest, the investment office of Premji, collectively hold nearly 40 per cent stake in the FSS, and the rest is held by the promoters and employees, Mylandla told newspersons.