National Payments Corporation of India (NPCI) has onboarded 19 new entities as shareholders as part of a private placement exercise which saw non-profit dilution of 4.63 per cent stake for Rs 816.4 million.
Among the new shareholders are the players such as Amazon Pay, Paytm Payments Bank, PhonePe, Mobikwik, Pine Labs, Standard Chartered Bank and PayU. With this, NPCI has now expanded its total shareholder base to 67.
The deal ascribes a value of Rs 17.63 billion to NPCI. The State Bank of India, Bank of Baroda, HDFC Bank, ICICI Bank, Punjab National Bank and Citibank are among its largest shareholders, each of which owns between 7 per cent and 9.5 per cent stake.
The move to enlarge its shareholder base will ensure representation for non-bank payment systems that are part of India’s burgeoning payments landscape and is aimed at ensuring parity among digital payments players.
