About Novopay Solutions Private Limited
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Novopay Solutions Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the digital payment solutions segment of the financial services sector. It was incorporated on 20 February 2014 and has been in existence for over 12 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U62011KA2014PTC073736. Its GSTIN is 29AAECN6114F1ZK (Karnataka).
The company has an authorised share capital of ₹23 Lakh and a paid-up capital of ₹12.26 Lakh. It is led by directors Gautam Bandyopadhyay and Srikanth Nadhamuni.
Its last annual general meeting (AGM) was held on 27 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2025, the company reported a revenue of ₹36.41 Cr, a decline of 1% compared to the previous year. For the same year it recorded a net loss of ₹5.77 Cr (net margin -15.8%) and EBITDA of -₹4.21 Cr (EBITDA margin -11.6%). Revenue has declined at a compounded annual rate (CAGR) of 25% over three years and 14% over five years.
The company has about 242 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Trustt. As per MCA filings, the company has satisfied charges of ₹20 Cr on record. Court records list 10 cases involving the company, including 7 filed by the company and 3 filed against it; 3 cases are pending. The company has 21 deals on record (16 secondary share transfers, 4 funding rounds, 1 convertible or debt financing), with disclosed funding of ₹62.24 Cr; the latest was in November 2023. The company has 13 MSME Form 1 returns on record between 2019 and 2023, listing 34 overdue payments to 14 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website novopay.in.
Company details
CIN history
Novopay Solutions has one previous CIN (Corporate Identification Number): U72200KA2014PTC073736. The current CIN is U62011KA2014PTC073736, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U62011KA2014PTC073736 | Current |
| U72200KA2014PTC073736 | Previous |
Contact details
Novopay Solutions Private Limited's registered office is in Bangalore, Karnataka.
- Social Media
- Apps
- Registered AddressII Floor No 18/2A Khata No 629 Ambalipura Villa Sarjapura Main Road Bellandur Gate Var, Thur Hobli, Bangalore, Karnataka, India – 560102
- IndustryFinancial Services, Digital Payment Solutions
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Novopay Solutions operates one associated brand: Trustt. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Diversified digital solutions for banks and financial institutions are offered. | trustt.com |
Business activity
The main business activities of Novopay Solutions are information and communication and financial and insurance service. In detail, this covers computer programming, consultancy and related activities and other financial activities. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities | |
| K | Financial and insurance Service | K8 | Other financial activities |
To see the full business activity and turnover split of Novopay Solutions Private Limited, buy the company report.
Financials of Novopay Solutions Private Limited
FY 2024 filings availableNovopay Solutions Private Limited reported revenue of ₹36.41 Cr (down 1% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 14% over five years, including a 1% fall in the latest year. EBITDA fell 202% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | -₹4.21 Cr | ||||
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| Net Profit (PAT) | -₹5.77 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Profitability | |||||
| EBITDA Margin | -11.6% | ||||
| Net Profit Margin | -15.8% | ||||
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To see the full financial statements and ratios of Novopay Solutions Private Limited, buy the company report.
Board of directors of Novopay Solutions Private Limited
Novopay Solutions has 2 current directors and 12 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Srikanth Nadhamuni Also directs: Klarity Intelligence (India) Private Limited, Khosla Labs Private Limited, Totemic Labs India Private Limited and 3 more | Nominee Director | 07 Jul 2014 | 12 Years 4 Months | Current |
| Gautam Bandyopadhyay | Director | 26 Apr 2019 | 7 Years 6 Months | Current |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 11 Jul 2018 | 100189006 | Others | ₹20 Cr | Satisfied |
To see the full charge records of Novopay Solutions Private Limited, buy the company report.
Total charge records: 1 View all charges
Deals & funding
Novopay Solutions Private Limited has 21 deals on record (16 secondary share transfers, 4 funding rounds, 1 convertible or debt financing), with disclosed funding of ₹62.24 Cr; the latest was in November 2023.
Deals on record (5 of 21)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2023 | Secondary share transfer | Undisclosed | Buyer: Novopay Employees Share Ownership Plan Trust, 3 individuals Seller: Idfc Limited |
| Jun 2023 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Idfc Limited |
| May 2023 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Idfc Limited |
| Apr 2023 | Secondary share transfer | Undisclosed | Buyer: 4 individuals Seller: Idfc Limited |
| Oct 2022 | Secondary share transfer | Undisclosed | Buyer: an individual Seller: Idfc Limited |
To see the full deal history of Novopay Solutions Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Novopay Solutions Private Limited has 10 court cases on record: 7 filed by Novopay Solutions, 3 filed against it. 3 cases are pending and 7 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 6 | 2 | 2 |
| High courts | 4 | 1 | 1 |
Cases on record (5 of 10)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Karnataka | Writ petition | Filed by the company against Reserve Bank of India and 2 others | Pending |
| District court, Gurugram, Haryana | Civil miscellaneous application | Filed by the company against M/S Uphaar Gallery | Pending |
| District court, North West, Delhi | Court case (CS (COMM.)) | Filed by the company against Infomatic Solution Private Limited | Pending |
| District court, BENGALURU, Karnataka | Court case (Com.EX.) | Filed against the company by an individual | Disposed |
| High Court of Karnataka | Appeal | Filed against the company by Deputy/Assistant Commissioner | Disposed |
To see the full case history of Novopay Solutions Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Novopay Solutions Private Limited has 13 MSME Form 1 returns on record between 2019 and 2023, listing 34 overdue payments to 14 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 14)
To see the full MSME payment records of Novopay Solutions Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Novopay Solutions has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAECN6114F1ZK | Karnataka | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Novopay Solutions Private Limited, buy the company report.
Recent activity
Novopay Solutions Private Limited has 14 board changes on record since 2014: 2 appointments and 12 cessations. The latest: Bipin Narandas Gemani ceased to be Nominee Director on 28 Nov 2023.
8 earlier events are in the company report.
News
Frequently asked questions
Novopay Solutions is an active private limited company based in Bangalore, Karnataka, India. The company works in digital payment solutions, within the financial services industry. It was incorporated on 20 February 2014 (12+ years old) and is registered under CIN U62011KA2014PTC073736.
Novopay Solutions has 2 current directors:
- Srikanth Nadhamuni - Nominee Director
- Gautam Bandyopadhyay - Director
The latest financial statements of Novopay Solutions on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 27 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Novopay Solutions is 29AAECN6114F1ZK, registered in Karnataka.
The CIN (Corporate Identification Number) of Novopay Solutions is U62011KA2014PTC073736. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Novopay Solutions has 10 court cases on record: 7 filed by the company and 3 filed against it. 3 are pending. Most are in the district courts.
Novopay Solutions was incorporated on 20 February 2014, making it 12+ years old. It is registered with the Registrar of Companies, Bangalore.
Novopay Solutions has 21 deals on record (16 secondary share transfers, 4 funding rounds, 1 convertible or debt financing), with disclosed funding of ₹62.24 Cr; the latest was in November 2023.
Bipin Narandas Gemani ceased to be Nominee Director on 28 Nov 2023. Sunil Kakar ceased to be Nominee Director on 30 Sep 2022. Prashanth Yedabettu Narayan ceased to be Director on 05 Aug 2022. Novopay Solutions has 14 board changes on record in total.
Novopay Solutions has 13 MSME Form 1 returns on record between 2019 and 2023, listing 34 overdue payments to 14 micro and small suppliers. The latest return was filed on 28 Aug 2023.
Novopay Solutions can be reached through the website novopay.in. Its registered office is in Bangalore, Karnataka, India.
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