Network People Services Technologies Limited IPO

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(i) Incorporated as a Private Limited Company on October 04, 2013, the name of the company was changed to Network People Services Technologies Limited on October 09, 2020.

(ii) The company is a banking technology service provider (TSP) and is engaged in providing software and mobility solutions to the banking and finance sector primarily focusing on mobile banking applications, digital transaction solutions such as IMPS, UPI, digital wallet, etc. and smart transaction solutions. It is equipped to provide end-to-end services related to payment platforms including mobile banking solutions and is currently rendering its services to Canara Bank, Syndicate Bank, Kerala Gramin Bank, Karnataka Gramin Bank, IBM India Private Limited, and Cosmos Co-operative Bank. Our Company is also engaged in rendering software services consisting of designing, consulting, development, quality, and manpower provisioning under software SDLC.

(iii) The Company has developed a digital ecosystem for the cashless economy through our flagship application named and styled as TimePay®. It is also registered as a Third-Party Application Provider (TPAP) facilitating UPI payment services through TimePay.

Business Presence
1. IT Software and Service – Banking and Payments
2. Digital Merchant – Acquisition & Payment Service Provider
3. Service Aggregation

Products & Services
1. Integrated Mobile Banking Solution (IMBS)
2. IMPS (Immediate Payment Service) Switch
3. UPI (Unified Payment Interface) Switch
4. Wallet Solution
5. Software Service

Competitive Strengths
1. Quality and secure platform
2.Frequent team training
3. Experienced management and workforce
4. Scalable business model

Objects of the Network People Services Technologies Limited IPO:

Net proceeds from the issue will be used in: (i) To develop a mobile application in the name of TimePay® (ii) To acquire IT hardware and equipment (iii) Marketing and promotion of TimePay® (iv) To meet general corporate expenses
DRHP of Network People Services Technologies Limited IPO
RHP of Network People Services Technologies Limited IPO

Network People Services Technologies Limited IPO Details:

Open Date: Jul 28 2021
Close Date: Aug 02 2021
Total Shares: 1,712,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 13.70 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 76 - 80 Per Equity Share
Listing At: NSE Emerge
Listing Date: Aug 10 2021

Promoters And Management:

Deepak Chand Thakur, aged 39 years, is the Promoter, Chairman & Managing Director of the Company. He completed his Master in Marketing Management from the University of Mumbai and Bachelor of Commerce from the University of Mumbai. He joined the company as a director in the year 2014. He is a versatile business manager with competencies in optimizing team dynamics, uniting diverse agendas to common goals, and harnessing strategic and operational drivers to deliver results. He is a creative strategist having the ability to roll out & implement solutions to generate reasonable value for stakeholders. He has worked with M/s. Spanco Limited in the capacity of General Manager-Strategy and M/s Frost & Sullivan in the capacity of Senior Research Analyst where he developed and implemented various strategies and organizational growth plans based on impact analysis of existing/projected strategic initiatives. He is responsible for managing a business, organizational growth, and strategic planning. Ashish Aggarwal, aged 43 years, is the Promoter and Joint Managing Director of the Company. He is a member of The Institute of Chartered Accountants of India and the Institute of Cost and Works Accountants of India. He has completed his Bachelor of Commerce from the University of Delhi and Master in Commerce from Dr. Bhimrao Ambedkar University, Agra. Renu Shyam Sunder Vashist, aged 40 years, is the Non – Executive Director of the Company holding a Bachelor’s degree in Engineering from Parshavnath College of Engineering affiliated with the University of Mumbai. She has experience of over 14 years in the field of technology and architecture. She has worked with M/s. Tata Interactive Systems as a Senior Technical Architect and M/s. HCL Learning Limited as a Solution Architect.

Financials of Network People Services Technologies Limited IPO:

Particulars (Lakh) Mar 21 Mar 20 Mar 19
Revenue 1534 1519 1799
Purchases of Stock 189 182 133
Change in WIP -21 27 -15
Cost of Technical and Sub Contractors 379 521 619
Employee Benefit Expenses 582 466 540
Other Expenses 109 98 222
Operating Profit 296 225 300
OPM % 19.30% 14.81% 16.68%
Other Income 3.6 5.6 1.1
Depreciation & Amortisations 151 86 112
Financial Cost 5 0.63 0.5
Profit Before Tax 141 141 186
Net Profit 105 104 134
NPM% 6.84% 6.85% 7.45%

Comparison With Peers:

In the DRHP, they have shown Oracle Financial Services, Mphasis, RamInfo and Infibeam Avenues as its listed peers and all are currently trading at a P/E of around 21, 38, 24 and 122 respectively.

Recommendation on Network People Services Technologies Limited IPO:

Review and Recommendation of Network People Services Technology IPO by IZ team is 3/10. 1. There is no growth in the business from the last 3 years. 2. The asking P/E is 48 which is very high as compared to peers.

Lead Manager of Network People Services Technologies Limited IPO:

  1. BOI Merchant Bankers Ltd.
  2. Holani Consultants Private Limited

Registrar of Network People Services Technologies Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Network People Services Technologies Limited 306, 3rd Floor, Lodha Supremus II, Road No. 22, Wagle Estate, Thane (West) Phone: +91–9810497261 Email: cs@npstx.com Website: http://www.npstx.com/

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