6 days ago
Paramotor Digital Technology Secures Sebi Nod for IPO
Paramotor Digital Technology is a company that wants to offer its shares to the public.
Sebi has given it a final observation, which is an important step before an IPO.
The company privately submitted its IPO documents in May.
This filing method lets the company keep details such as the issue size private for now.
Paramotor was founded in 2016.
It runs SpendPro for managing spending through prepaid cards.
It also operates RewardOn for business rewards, yayyy.shop for digital gift cards and DevStack for software services.
Sonia Asher leads the company as executive chairperson, while Rahul Anand is its managing director.
Motilal Oswal Investment Advisors and Equirus Capital will help manage the share offering.
Paramotor Digital Technology Ltd received Sebi’s final observation for its proposed IPO on August 25.
The company confidentially filed its draft IPO papers with Sebi in May under the pre-filing route.
The pre-filing mechanism allows issue size and other key details to remain confidential until a later stage.
Motilal Oswal Investment Advisors and Equirus Capital are the IPO’s book-running lead managers.
Paramotor operates SpendPro, RewardOn, yayyy.shop and DevStack across consumer and enterprise technology markets.
- Who
- Paramotor Digital Technology Ltd, led by Executive Chairperson Sonia Asher and Managing Director Rahul Anand.
- What
- The fintech and enterprise technology company received Sebi’s final observation for a proposed initial public offering.
- Where
- The company operates across India and serves consumer and enterprise segments.
- When
- Paramotor received the final observation on August 25 after filing draft IPO papers in May.
- Why
- The Sebi observation allows Paramotor to continue preparing for its public issue, subject to applicable regulatory requirements.
Key facts
- Company
- Paramotor Digital Technology Ltd
- Founded
- 2016
- Regulator
- Securities and Exchange Board of India (Sebi)
- Filing route
- Confidential pre-filing mechanism
- Draft filing
- Submitted to Sebi in May
- Final observation
- Received on August 25
- Book-running lead managers
- Motilal Oswal Investment Advisors and Equirus Capital
- Business areas
- Consumer spend management, rewards and loyalty, digital gifting, and enterprise technology services
Sources
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