Network People Services Technologies Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on August 28, 2025
NPST · price
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Network People Services Technologies (NPST) has issued a corrigendum to the notice of its Extra Ordinary General Meeting (EGM) scheduled for August 28, 2025, to correct certain omissions and typographical errors in the original notice. The company is proposing a preferential issue of 14,46,500 equity shares at Rs. 2,074 per share (face value Rs. 10, premium of Rs. 2,064) to Tata Mutual Fund, for a total consideration of up to about Rs. 300 crore. The corrigendum revises details on shareholding pattern, proposed allottees, lock-in period, and confirms that the issue price and relevant date (July 29, 2025) remain unchanged. Funds raised will be used for global expansion, brand building, product development, infrastructure enhancement, strategic acquisitions, and general corporate purposes.
Tata Mutual Fund's stake will rise from 2.66% to 9.42% post-issue, which is a strong vote of confidence from a marquee institutional investor. However, existing shareholders will face dilution, with promoter holding reducing from 64.81% to 60.31% and public (non-institutional) shareholding percentage also dropping across categories.