Amazon Pay, Paytm, PhonePe and 16 other companies become NPCI shareholders- Technology News, Firstpost

TechSamvadNov 27, 2020 16:47:26 IST

NPCI (National Payments Corporation of India) launched an announcement on 26 November disclosing that it has widened its shareholder base, which units the valuation of the entity at Rs 1,763 crore. It has accomplished this by finishing the non-public placement of 4.63 p.c of its fairness shares value Rs 81.64 crore. Some of the 19 new shareholders embody Amazon Pay, Paytm Payments Bank, PhonePe, Mobiwik, Pine Labs, Standard Chartered Bank and PayU. This takes the entire variety of shareholders to 67. This comes after the entire variety of UPI transactions had crossed the two billion mark in final month, October 2020.

According to the most recent shareholding sample, as of 26 November, together with the brand new additions, Amazon Pay India, PayU Payments. PhonePe, Pine Labs, Paytm Payments Bank, IDFC First Bank, Standard Chartered Bank, and so forth, have 0.44 p.c shareholding every whereas MobiKwik and India Post Payments Bank, have 0.04 p.c holding every. Union Bank of India, Bank of Baroda and Punjab National Bank maintain the best stake with 9.15 p.c, whereas Canara Bank holds 8.14 p.c share. Lenders together with State Bank of India, Bank of India, ICICI Bank, HDFC Bank, HSBC and Citibank, every maintain 7.12 p.c stake.

“This broad basing exercise was done to further diversify and distribute the NPCI shareholding to a larger set of the RBI regulated entities and categories of payment industry participants. 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,” NPCI stated in a assertion.

“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,” stated Rupesh H Acharya, Chief of Finance, NPCI.