Network People Services Technologies Ltd announces launch of initial public offering
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Network People Services Technologies Ltd. has announced public offering of 1712000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 70.00 per share. The gross proceeds of the issue are expected to be Rs 1,369.60 lakhs. The company's initial public offer (IPO) will open on 28 July 2021 and is expected to close on 02 August 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 76.00-80.00 per share. The IPO includes a fresh Issue of 1712000 Equity Shares of the Company at an price of Rs 80.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600.
Network People Services Technologies Ltd. anticipates using the proceeds of the issue for To develop mobile application in the name of TimePay To acquire IT hardware and equipments Marketing and promotion of TimePay To meet general corporate expenses. HOLANI CONSULTANTS PVT. LTD.,BOI Merchant Bankers Limited as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.
