Paramotor Digital Files Confidential IPO Papers With SEBI

Fintech and enterprise technology company Paramotor Digital Technology has taken a step towards going public after confidentially filing draft initial public offering (IPO) documents with market regulator Securities and Exchange Board of India (SEBI).

The company submitted its preliminary papers through SEBI’s confidential pre-filing route, according to a public notice released by the firm.

IPO Details Kept Under Wraps

Under the pre-filing mechanism, companies are allowed to keep key details such as issue size, valuation and offer structure private during the initial stages of the process.

This route has become more common among firms preparing for stock market listings, especially those looking for flexibility around timing and market conditions before making a full public disclosure.

In its notice, Paramotor said it had submitted the pre-filed draft red herring prospectus to SEBI and the stock exchanges for a proposed mainboard IPO.

Investment Banks Managing The Issue

According to people familiar with the matter, Motilal Oswal Investment Advisors and Equirus Capital are acting as the book-running lead managers for the proposed issue.

The company has not yet announced the size of the public offering or the timeline for the listing.

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What Does Paramotor Digital Do?

Founded in 2016, Paramotor Digital Technology operates across multiple areas within fintech and enterprise technology.

Its business includes digital payments, spend management, rewards programmes, gifting solutions and software development services for enterprises.

The company runs several platforms across these segments.

One of its products, SpendPro, focuses on prepaid card-based expense management. RewardOn is aimed at helping businesses manage customer loyalty and employee reward programmes digitally.

It also operates yayyy.shop, a gifting marketplace that offers prepaid and branded gift cards across different categories.

Besides consumer-facing services, the company has a technology unit called DevStack which creates software applications and digital platforms for business clients.

Sources:

NDTV Profit

The Economic Times