The National Payments Corporation of India (NPCI), which runs payments infrastructure such as UPI and RuPay, has onboarded leading private payments players such as PhonePe, Amazon Pay and Paytm Payments Bank as shareholders.
NPCI on Thursday said it has added 19 new shareholders, bringing the total shareholder entities to 67.
Apart from the players mentioned above, Mobikwik, PayU Payments, and Pine Labs are also among the new shareholders. All these payments players now hold 0.44 percent stake each in NPCI (Mobikwik holds 0.04 percent).
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Among the largest shareholders are public sector banks such as Bank of Baroda (9.15 percent), Union Bank of India (9.15 percent) and State Bank of India (7.12 percent).
NPCI announced the completion of private placement of 4.63 percent of its equity shares worth Rs 81.64 crore, which values the entity at Rs 1,763 crore.
The agency said it 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," the agency said in a statement.
"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, co-operative & regional rural banks," said Rupesh H Acharya, chief of finance, NPCI.
NPCI, a not-for-profit organisation, is an initiative of the RBI and Indian Banks’ Association (IBA).
(Edited by : Jomy)
First Published: Nov 26, 2020 8:49 PM IST
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