• IPO proceeds deployment: The ₹805 crore IPO includes a ₹320 crore primary issue, of which ₹238 crore will be invested over three years in metal, RFID, tax stamps, and export capacity expansion, with ₹85 crore allocated to general corporate purposes.
• Domestic market position: The company holds a 31% market share in India supported by 14 personalization facilities, with 80% of revenue generated from payment cards and 20% from tax stamps, government IDs, and metal cards.
• Export expansion strategy: Operating across six global regions, the company is targeting growth in the US, has established local operations in Nigeria, and maintains dedicated sales forces across APAC and the Middle East.
• Digital payment growth: UPI and NFC adoption are expanding the formal credit base and card usage rather than displacing it, driving increases in credit card issuance, spending, and contactless mass-transit payments.