Key Points
Initially, this proposed transaction will give an exit to a few minority shareholders - family members who own about 20% stake in the parent company MTL..
Besides the secondary stake sale, about 5-10% primary shareholding will be sold to meet expansion plans, sources aware of the initiative told ET.ETtechRepresentative Image..
Mumbai: Manipal Technologies (MTL), the largest manufacturer of banking and smart cards in India, plans to bring in a financial partner into the eight-decade-old, Pai family-owned business at a valuation of around 4,000-4,200 crore ($500 million), multiple people aware of the initiative told ET...
MTL is in the business of printing, facilitating secure transactions, marketing, branding and communication for consumer-oriented industries such as retail banking, telecom, education, publishing, consumer goods and retail, financial services, aviation and transport..
MTL's revenue profile on a consolidated basis is diversified with secured printing and stationery business accounting for 46%, followed by plastic and metal cards at 34%, and financial inclusion at 11%..
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