Money & Banking

India1 Payments deploys over 10,000 White Label ATMs

Our Bureau | | Updated on: Nov 29, 2021
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The company is planning an IPO comprising fresh issue of equity shares aggregating up to ₹150 crore

India1 Payments Ltd (formerly BTI Payments Pvt Ltd) has crossed the ATM deployment milestone of 10,000 White Label ATMs.

K Srinivas, Managing Director and Chief Executive Officer, India1 Payments, said, “With an average deployment of over 300 ATMs per month for the previous four months, we are committed to ensuring cash availability to customers even in the remotest corners of the country.”

The Bengaluru-headquartered company is planning an initial public offer comprising fresh issue of equity shares aggregating up to ₹150 crore and offer for sale of up to 1.03 crore equity shares,

ATMs deployed by White Label ATM Operators (WLAOs) reached over 25,000 in number with a strong CAGR of 21 per cent between March 2015 and March 2021, as per the company’s draft red herring prospectus (DRHP)

CRISIL Research expects the number of ATMs deployed by WLAs to grow at a compounded annual growth rate of 17 per cent between March 2021 and March 2026, to reach 55,000 by March 2026.

Published on November 29, 2021

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