Network People Services Technologies SME
SME₹13.70 Cr issue
+4.94%
Listing gain over issue price
Issue size
₹13.70 Cr
1 lot at cut-off
₹1,28,000
Lot size
1,600shares
Open
28 Jul 2021
Close
02 Aug 2021
Allotment
05 Aug 2021
Listing
10 Aug 2021
Listing performance
Issue price
₹80
Listed at
₹83.95
Listing-day close
₹79.90
Latest price
₹1,648.30
Close on 23 Oct 2026
Listing gain
+4.94%
Return since issue
+6081.13%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 28 Jul 2021 – 02 Aug 2021
- Listing date
- 10 Aug 2021
- Face value
- ₹10 per share
- Issue price
- ₹80 per share
- Lot size
- 1,600 shares
- Total issue size
- ₹13.70 Cr
- Market cap at offer price
- ₹51.70 Cr
- Promoter holding
- 91.90% → 67.54% pre-issue → post-issue
- ISIN
- INE0FFK01017
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- BOI Merchant Bankers Ltd.
- Registered office
- 306, 3rd Floor, Lodha Supremus II, Road No.22, Wagle Estate, (West), Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 86,400 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹80
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,28,000 |
| S-HNI (min) | 2 | 3,200 | ₹2,56,000 |
| S-HNI (max) | 7 | 11,200 | ₹8,96,000 |
| B-HNI (min) | 8 | 12,800 | ₹10,24,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
₹80 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| Market cap | — | ₹51.70 Cr |
About Network People Services Technologies SME
Network People Services Technologies Limited is engaged in providing software and mobility solutions to the banking and finance sector, primarily focusing on digital payments including mobile banking, IMPS, UPI, and digital wallet services. The company also provides smart transaction and merchant management solutions for micro, small and medium enterprises. Established as a Private Limited Company in October 2013 and converted to Public Limited Company in October 2020, the company developed its flagship product TimePay, a mobile application for digitization of housing societies, merchants, and digital payment platform. The company is certified with ISO 9001:2015 for quality products, ISO 27001:2013 for information security, and CMMI Level 3 for software solutions.
Company Analysis
from RHPNetwork People Services Technologies Limited provides software and mobility solutions for digital payments and banking sector, with focus on mobile banking, UPI, digital wallets, and merchant management for MSMEs.
Network People Services Technologies Limited is engaged in providing software and mobility solutions to the banking and finance sector, primarily focusing on digital payments including mobile banking, IMPS, UPI, and digital wallet services. The company also provides smart transaction and merchant management solutions for micro, small and medium enterprises. Established as a Private Limited Company in October 2013 and converted to Public Limited Company in October 2020, the company developed its flagship product TimePay, a mobile application for digitization of housing societies, merchants, and digital payment platform. The company is certified with ISO 9001:2015 for quality products, ISO 27001:2013 for information security, and CMMI Level 3 for software solutions.
Information TechnologyFinancial Technology (Fintech)Banking and FinanceSoftware and Mobility Solutions
Objects of the Issue
- Development of TimePay® ₹201.41 lakhs p.28
- Acquiring IT hardware and equipment ₹327.65 lakhs p.28
- Marketing and promotion of TimePay® ₹370.50 lakhs p.28
- General corporate purposes ₹296.28 lakhs p.28
- Development of TimePay® application ₹201.41 lakhs p.108
- Acquiring IT hardware and equipment ₹327.65 lakhs p.108
- Marketing and promotion of TimePay® ₹370.50 lakhs p.108
- General corporate purposes ₹296.28 lakhs p.108
- Not stated in this section of document
- Not explicitly stated in this part of the document
Issue Structure
- Total Issue
- ₹1,369.60 lakhs
- Fresh Issue
- 17,12,000 equity shares of face value Rs. 10/- each at Rs. 80/- per share
- Offer for Sale
- No offer for sale in this Initial Public Offering
- Price Band
- Price Band of minimum price (Floor Price) of Rs. 76/- and maximum price (Cap Price) of Rs. 80/-
- Lot Size
- 1600 equity shares and in multiples of 1600 equity shares
- Face Value
- Rs. 10/- per equity share
Business Model
The company earns revenue through providing software and mobility solutions to banking and finance institutions for digital payment systems and related services. It operates as a technology service provider vendor to banks for mobile banking and digital payment solutions, and also provides merchant management and digital transaction solutions through its TimePay platform.
Business Segments
Provides software and mobility solutions to banking and finance sector focusing on digital payments including mobile banking, IMPS, UPI, digital wallet services
Provides smart transaction and merchant management solution for micro, small and medium enterprises through TimePay platform
Provides mobile banking applications, digital transaction solutions (IMPS, UPI, digital wallet), smart transaction solutions, and end-to-end services related to payment platforms
Digital ecosystem for the cashless economy offering smart society, digital payments, and digital merchant services
B2B model where company acts as technology service provider delivering end-to-end technology solutions in digital payments, smart transaction solutions, development, customization, maintenance & support to clients in banking & finance sector. Products include Integrated Mobile Banking Solution (IMBS), IMPS Payment Switch, UPI Switch, Wallet Solution, and Software Services.
B2C model where company digitizes offline merchants and housing societies by providing digital payment solution and business services through TimePay® application platform. Platform is empowered by inbuilt merchant Payment Solution Provider (PSP) application offering digital payments, smart society management, digital merchant solutions, and digital transit solutions.
Model where company creates network of citizen service centres to provide multiple services under one roof by providing single platform to large, medium and small service providers and delivering services at citizen's doorstep through mobile and kiosk-based solution. Includes Serve Seva Kendra platform and BBPS (Bharat Bill Payment Services) delivery.
Provides mobile banking applications and IT services to banking sector
Provides IT services and software development services outside banking sector
Digital ecosystem and payment platform application services
Consumer service mall providing digital technology and services
Sale of computers and hardware equipment
SWOT Analysis
Strengths
- • End-to-end capability in digital payment platforms and mobile banking solutions(p.110)
- • Experienced management and efficient workforce(p.126)
- • Scalable business model with multiple steady growth drivers(p.126)
- • Strong R&D capabilities and quality content(p.126)
- • Well-established relationships with Banks and Financial Institutions(p.126)
- • Leading position in Indian digital payments infrastructure with proven UPI platform(p.152)
- • Strong strategic partnership with Cosmos Cooperative Bank for Merchant PSP and UPI operations(p.192)
- • Established relationships with major banks including Canara Bank and Syndicate Bank(p.164)
- • Comprehensive quality certifications and compliance standards (ISO 9001:2015, ISO 27001:2013, CMMI Level 3)(p.162)
- • Experienced management team with deep fintech and banking technology expertise(p.192)
- • Scalable business model across customer segments, industries and geographies(p.192)
- • TPAP registration with NPCI and own payment handle (@TimeCosmos)(p.170)
- • Experienced management with proven track record in IT and fintech(p.223)
- • Strong financial expertise and operational control(p.224)
- • ISO certifications and industry compliance(p.271)
- • Digital ecosystem with flagship TimePay application(p.271)
- • Profitable operations with consistent revenue(p.267)
- • ISO certified with quality, security and software process standards(p.312)
- • Digital ecosystem for cashless economy with flagship TimePay application(p.312)
- • Established banking relationships with multiple tier-1 clients(p.347)
- • Third-Party Application Provider status enabling UPI payment services(p.312)
- • Registered trademark portfolio across multiple service classes(p.387)
Weaknesses
- • Small scale relative to listed peers with significantly lower total income(p.129)
- • Lower profitability metrics compared to peers(p.129)
- • Limited track record with only recent bonus issues and preferential allotment(p.88)
- • High concentration of ownership with promoters holding 91.90% pre-issue(p.99)
- • Project costs and objectives not appraised by independent third parties(p.122)
- • Heavy customer concentration with top 10 customers accounting for 92.61% of total sales(p.191)
- • Limited independent revenue diversification beyond core bank customer base(p.191)
- • Early-stage TimePay platform with minimal revenue contribution (0.42% in FY 2020-21)(p.191)
- • Dependence on single sponsor bank (Cosmos Cooperative Bank) for UPI and PSP operations(p.192)
- • One promoter lacks adequate experience in company's business(p.246)
- • High concentration of shareholding among promoters(p.242)
- • Promoters have provided personal guarantees for bank borrowings(p.245)
- • Short-term borrowing dependence(p.283)
- • High employee benefits liability(p.285)
- • High dependence on few customers for revenue(p.374)
- • Significant reliance on few suppliers(p.374)
- • Unfunded gratuity and leave encashment obligations(p.324)
- • Outstanding contingent liabilities including tax disputes(p.371)
- • Pending tax proceedings with significant demands(p.378)
Opportunities
- • Digital payments market projected to grow at CAGR of 17% through 2024(p.146)
- • Real-time payments market expected to grow from USD 6.8 billion in 2018 to USD 25.9 billion by 2023 at CAGR of 30.6%(p.141)
- • Global mobile banking market valued at $715.3 million in 2018 expected to reach $1,824.7 million by 2026 with CAGR of 12.2%(p.142)
- • Asia-Pacific region showing highest mobile banking CAGR of 16.0% during 2019-2026(p.142)
- • Development of flagship TimePay® application with multiple revenue streams across merchants, societies, and digital services(p.110)
- • Cloud-based security solutions market expected to grow from USD 4.1 billion in 2017 to USD 12.7 billion by 2022 at CAGR of 25.5%(p.136)
- • India showing high fintech adoption with 52% of digitally active consumers using fintech and 87% consumer adoption rate(p.139)
- • Massive growth opportunity in digital payments market projected to reach $350 billion by 2025(p.148)
- • India's dominant 55% market share in global sourcing creates expansion opportunities(p.148)
- • Significant growth in UPI merchant ecosystem with only 4 existing Merchant PSPs(p.197)
- • Government support for digital payments and financial inclusion initiatives(p.154)
- • TimePay smart society module addresses untapped housing society digitization market(p.173)
- • Potential for international expansion in digital payments and merchant platforms(p.197)
- • India's FinTech market ranked 3rd globally with highest investment growth and ROI potential(p.153)
- • Cashless economy expansion and digital payment infrastructure(p.271)
- • Growth in merchant and society digitization services(p.271)
- • Third Party Application Provider services expansion(p.271)
- • International revenue generation capacity(p.295)
- • Expansion of merchant and user network for digital payments(p.312)
- • Society digitization through integrated application(p.347)
- • MSME merchant digitization and online business enablement(p.348)
- • Government payment services through strategic partnerships(p.348)
- • Growth driven by pace of digital transformation adoption(p.348)
Threats
- • Global economy projected to contract by –3% in 2020 due to COVID-19 pandemic(p.147)
- • Advanced economies projected to contract by –6.1% in 2020 with major economies including US (–5.9%), Japan (–5.2%), Germany (–7.0%)(p.147)
- • Remittances projected to decline by 20% in 2020 due to COVID-19 economic crisis(p.143)
- • Emerging market and developing economies excluding China projected to contract by –2.2% in 2020(p.147)
- • Lack of interoperability between payment gateways constraining market growth(p.140)
- • Increasing competition from local market players integrating advanced technology with legacy systems(p.140)
- • Global economic uncertainty with IMF projecting India growth at 1.9% for FY 2020-21 amid COVID-19(p.160)
- • Increasing regulatory scrutiny and compliance requirements in fintech and digital payments sector(p.154)
- • Intense competition from established payment providers and tech giants(p.155)
- • Risk of termination of Cosmos Cooperative Bank partnership agreement with 90 days notice(p.194)
- • Concentration risk in UPI ecosystem dominated by 4 existing Merchant PSPs with established market presence(p.197)
- • Cybersecurity and data protection risks inherent in fintech operations(p.154)
- • Tax disputes and contingent liabilities(p.277)
- • Regulatory compliance and insurance requirements(p.277)
- • Concentration risk with technical subcontractors(p.267)
- • Customer concentration risk(p.294)
- • Foreign exchange exposure(p.277)
- • Customer billing model changes reducing revenue predictability(p.365)
- • Intense and growing competition in IT services market(p.350)
- • Dependence on evolving regulatory and policy environment(p.349)
- • COVID-19 pandemic impact on business operations(p.350)
- • Economic sensitivity to Indian fiscal and political conditions(p.350)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Deepak Chand Thakur | Promoter | 27.57% | — |
| Ashish Aggarwal | Promoter | 27.57% | — |
| Savita Vashist | Promoter | 36.76% | — |
| Savita Vashist | Promoter | 36.76% | 27.02% |
| Ashish Aggarwal | Promoter | 27.57% | 20.26% |
| Deepak Chand Thakur | Promoter | 27.57% | 20.26% |
| Renu Aggarwal | Promoter Group | Negligible | Negligible |
| Kavita Deepak Chand Thakur | Promoter Group | Negligible | Negligible |
| Ashish Aggarwal | Promoter | — | — |
| Deepak Chand Thakur | Promoter | — | — |
| Savita Vashist | Promoter | — | — |
| Deepak Chand Thakur | Promoter, Chairman & Managing Director | 27.57% | 20.26% |
| Ashish Aggarwal | Promoter and Joint Managing Director | 27.57% | 20.26% |
| Savita Vashist | Promoter | 36.76% | — |
| Deepak Chand Thakur | Promoter | 29.10% | — |
| Ashish Aggarwal | Promoter | 29.10% | — |
| Savita Vashist | Promoter | 38.80% | — |
| Deepak Chand Thakur | Promoter | — | — |
| Ashish Aggarwal | Promoter | — | — |
| Savita Vashist | Promoter | — | — |
| RVCF India Growth Fund - RVCF Trust - III | Promoter Group | — | — |
Leadership
Deepak Chand Thakur · Chairman and Managing Director
Ashish Aggarwal · Joint Managing Director
Inder Kumar Naugai · Chief Financial Officer
Shreya Agarwal · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Network People Services Technologies SME IPO FAQs
What is the lot size of Network People Services Technologies SME IPO?
The minimum lot size of Network People Services Technologies SME IPO is 1,600 shares. One lot costs ₹1,28,000 at the cut-off price.
When does Network People Services Technologies SME IPO open and close?
Network People Services Technologies SME IPO opened for subscription on 28 Jul 2021 and closed on 02 Aug 2021.
What is the listing date of Network People Services Technologies SME IPO?
Network People Services Technologies SME IPO listed on 10 Aug 2021.