Network People Services Technologies is a company operating in the SME space. It has recently come out with an IPO looking to raise funds from the public for its operations. Let’s take a look at the Network People Services Technologies IPO details to know more about this latest IPO.
- About the company
Network People Services Technologies is a relatively new company, having been incorporated quite recently in 2013. The entity provides software and mobility services to the banking and finance industry. Some of the services that Network People Services Technologies provides include software consulting, software designing, software development, manpower provisioning, and other digital transformation solutions.
The company’s flagship product ‘TimePay’ is used by many organizations to manage their receivables, accounts, vendor relations, and more. The client base of Network People Services Technologies includes several key public sector banks such as Canara Bank, Syndicate Bank, Kerala Gramin Bank, Karnataka Gramin Bank, and Cosmos Co-operative bank.
- Network People Services Technologies IPO details
Here are the key details of the upcoming IPO including the Network People Services Technologies IPO date and Network People Services Technologies IPO share price.
- Network People Services Technologies IPO date
The company’s latest IPO is all set to open up to the public for subscription on July 28, 2021. It would then come to a close on August 02, 2021.
- Network People Services Technologies IPO issue size
The entire issue size of the Network People Services Technologies IPO is a fresh issue of shares. The company is looking to issue around 17,12,000 equity shares for around Rs. 13.70 crores. There’s no offer for sale from the company’s promoters.
- Network People Services Technologies IPO share price
Although the issue is from the SME segment, the company has chosen to go the book building way. Therefore, the IPO price band for the issue would be Rs. 76 to Rs. 80 per equity share.
- Network People Services Technologies IPO listing
The company’s shares would be listed on the EMERGE platform of the National Stock Exchange, which is a dedicated platform for SMEs.
- Network People Services Technologies IPO objectives
The company is looking to use the net proceeds from the IPO for furthering the following objectives.
- For developing a mobile application for TimePay.
- For funding the acquisition of IT hardware and equipment
- For marketing and promotion of TimePay
- For meeting general corporate expenses
Conclusion
The Network People Services Technologies IPO is almost upon us. If you don’t have a demat account already, contact Motilal Oswal right away. You can open a demat account with us for free. All that you need to do is spend a few minutes.
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