Paramotor Digital Refiles IPO Draft With SEBI Seeking Up to Rs 1,000 Cr
Fintech firm Paramotor Digital Technology has updated its IPO draft with SEBI in a filing, seeking up to Rs 1,000 crore, according to Newsmetry API.
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what happened
Paramotor Digital Technology Limited has sent its updated draft red herring prospectus, labelled UDRHP-I, to India's market regulator, SEBI, for a public offering worth as much as Rs 1,000 crore, according to Newsmetry API. The deal combines new shares worth up to Rs 698 crore, while existing holders would sell stock valued at as much as Rs 302 crore.
Two promoters, Sonia Pankaj Asher and Rahul Anand, could each offload stakes valued at up to Rs 151 crore via the OFS. The fintech firm may also carry out a pre-IPO placement of up to Rs 139.60 crore; if that happens, the amount raised would be subtracted from the fresh issue portion.
Most of the fresh capital, Rs 355 crore, is slated for acquiring and keeping customers, plus marketing and brand building. Another Rs 94 crore goes to tech, cloud and IT assets, Rs 38 crore to offices, and the balance to general corporate needs.
why it matters
Founded in 2016, the company operates in prepaid payment instruments, digital gifting, spend management, rewards and loyalty platforms, and enterprise technology. Investors following Indian fintech listings may note how heavily the offering leans on customer growth spending, though timing and final terms depend on SEBI's review.
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instruments
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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