Money & Banking

NPCI broadens shareholding to 67 entities

Our Bureau Mumbai | Updated on November 26, 2020 Published on November 26, 2020

National Payments Corporation of India has widened its shareholding base to 67 entities and now includes not only banks but also payment and small finance banks and payment operators.

It announced the completion of private placement of 4.63 per cent of its equity shares worth ₹81.64 crore on Thursday.

“NPCI made an offer for the private placement to 131 RBI regulated entities, out of which 19 evinced interest and were allotted shares in NPCI. With this shareholding expansion, NPCI gets on-board some of the leading banks, new categories of banks and the RBI authorised non-bank entities,” it said in a statement.

IndiaPosts Payment Bank, Paytm Payment Bank, Mobikwik, Amazon Pay, Pine Labs, PhonePe are some of the new shareholders of NPCI.

“We are extremely pleased with the outcome of this exercise and the confidence expressed in NPCI’s continued growth and larger purpose. With this we have also broad based our shareholding to include new categories like payment banks, small finance banks and payment system operators in addition to existing public sector, private sector, foreign, cooperative and regional rural banks,” said Rupesh H Acharya, Chief of Finance, NPCI.

NPCI had, in September 2016, broadened its shareholding base to 56 banks from 10 earlier.

ICICI Securities served as the advisor for the private placement. Khaitan & Co, Mumbai, was also associated as legal advisor with NPCI in this transaction.

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Published on November 26, 2020
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