Network People Services Technologies Limited (NPST) has announced a series of significant corporate decisions, including a preferential share allotment and key leadership appointments, following a board meeting held on September 5, 2025.

Preferential Share Allotment

The board of NPST has approved the allotment of 14,46,500 equity shares to Tata Mutual Fund under a preferential issue. This move is expected to strengthen the company's capital base.

Leadership Appointments and Re-appointments

Statutory and Secretarial Auditors

NPST has appointed Singhi & Co., Chartered Accountants (Firm Registration No. 302049E) as the company's statutory auditors. Established in 1940, Singhi & Co. has grown into a professional services firm with a presence across major Indian cities, boasting over 40 partners and 750 employees nationwide.

Ms. Kala Agarwal (CP No. 5356) has been re-appointed as the secretarial auditor. With a practice established in 2003, Ms. Agarwal brings experience in corporate secretarial compliances, securities laws, and corporate restructuring.

Both appointments are for a five-year term, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Board Re-appointments

The board has approved the re-appointment of key leadership positions, each for a five-year term:

1. Mr. Abhishek Mishra (DIN: 00288274) as Independent Director
2. Mr. Deepak Chand Thakur (DIN: 06713945) as Managing Director
3. Mr. Ashish Aggarwal (DIN: 06986812) as Joint Managing Director

Mr. Mishra, a Chartered Accountant, brings expertise in corporate governance and finance. Mr. Thakur and Mr. Aggarwal, both with over 21 years of experience, specialize in strategic planning, organizational growth, finance, administration, and accounting in the IT industry.

Annual General Meeting and Dividend

NPST has scheduled its 12th AGM for September 29, 2025, to be held via video conference. The company has set September 12, 2025, as the record date for dividend entitlement and approved the closure of share transfer books from September 22-29, 2025.

Financial Year 2024-25

The board has approved the annual report for the Financial Year 2024-25, which includes the Board's Report, Corporate Governance Report, Management Discussion & Analysis, and Business Responsibility & Sustainability Report.

These corporate actions reflect NPST's focus on strengthening its governance structure and strategic positioning in the market. Shareholders will have the opportunity to approve these decisions at the upcoming AGM.

Network People Services Tech Limited (NPST) has issued a corrigendum to its Extraordinary General Meeting (EGM) notice, providing important updates and corrections regarding its proposed preferential issue of equity shares. The company aims to raise up to Rs. 300.04 crore through this issue, with significant implications for its shareholding structure and future plans.

Key Details of the Preferential Issue

• Issue Size: 14,46,500 equity shares
• Issue Price: Rs. 2,074.00 per share (including a premium of Rs. 2,064.00)
• Total Fundraising: Up to Rs. 300.04 crore
• Approval Date: Board approval on August 4, subject to shareholder approval

Proposed Allottee and Shareholding Impact

Tata Mutual Fund has been identified as the proposed allottee for this preferential issue. The impact on their shareholding is noteworthy:

This significant increase in Tata Mutual Fund's stake underscores the strategic nature of this investment for both parties.

Utilization of Funds

NPST has outlined a clear plan for the utilization of the funds raised:

1. Global Expansion and Brand Building: Rs. 60.00 crore

   • Expand into new segments domestically and globally
   • Establish a strong brand presence
   • Scale sales and marketing efforts

2. Product Development and Strategic Acquisitions: Rs. 170.00 crore

   • Extend product offerings
   • Invest in infrastructure and hardware
   • Pursue strategic acquisitions

3. General Corporate Purposes: Rs. 70.04 crore

   • Includes cost of fundraising and issue expenses

The company plans to deploy these funds over a 24-month period from the date of receiving the funds.

Impact on Promoter Shareholding

The preferential issue will lead to a dilution in the promoter's stake:

Despite this dilution, NPST has confirmed that there will be no change in control post the preferential allotment.

Valuation and Compliance

NPST has obtained a valuation report from Mr. Navin Khandelwal, a SEBI Registered Valuer, dated August 4. The company has also ensured compliance with SEBI regulations, including lock-in periods for the allotted shares and pre-existing shareholdings.

Conclusion

This preferential issue represents a significant move for Network People Services Technologies Limited, potentially accelerating its growth plans in product development, global expansion, and strategic acquisitions. The investment from Tata Mutual Fund could provide not only capital but also strategic value to NPST's future endeavors.

Investors and stakeholders should note that the EGM notice should be read in conjunction with this corrigendum, which is available on the websites of NSE, BSE, and the company's investor relations page.