NPST Announces Plans To Transition From NSE EMERGE To Mainboard Listing

ENA MSME 2024-10-23 17:20:29 New Delhi, Oct 23 (KNN) Network People Services Technologies Limited (NPST), currently listed on NSE's SME platform EMERGE, has announced its Board of Directors' approval to transition to the NSE Mainboard. The decision comes amid strong financial performance, with the digital banking solutions provider reporting a 142 percent year-over-year revenue growth to Rs 68.91 crore in the second quarter of fiscal year 2025. The planned mainboard listing represents a significant milestone in NPST's corporate journey since its establishment in 2013. The company, which specialises in UPI payments and digital banking solutions, has demonstrated consistent growth, processing over 60 million daily transactions and serving more than 100 customers in the financial technology sector. NPST's recent financial results underscore its readiness for the mainboard transition, with half-yearly revenues reaching Rs 129.11 crore in FY25, up 68 percent from the previous year. The company's net profit showed remarkable growth, surging 264 percent to Rs 18.19 crore in Q2 FY25 compared to the same quarter last year. Deepak Chand Thakur, Co-Founder and CEO, NPST, views the mainboard transition as a crucial step in the company's evolution into a mid-market enterprise. This transition aligns with our NPST 2.0 vision and positions us for sustained long-term growth, stated Thakur. Co-Founder and Joint Managing Director Ashish Aggarwal added that the move validates the company's strategy and operational discipline demonstrated over the past three years. Concurrent with the mainboard transition approval, the Board has also authorised the allotment of equity shares under the NPST Employee Stock Option Plan 2023, reflecting the company's commitment to strengthening its organisational capabilities and leadership pipeline as it prepares for this new phase of corporate growth. The company continues to expand its technology footprint, recently launching innovative solutions including PayJoy, an instant credit line on UPI, and a machine learning-based Risk Intelligence Decisioning Platform, demonstrating its readiness to compete in the broader market segment that comes with a mainboard listing. (KNN Bureau) 39690 https://knnindia.co.in/news/newsdetails/msme/npst-announces-plans-to-transition-from-nse-emerge-to-mainboard-listing 2024-10-23 17:20:29 knnindia.co.in NPST Announces Plans To Transition From NSE EMERGE To Mainboard Listing