Paramotor Digital Technology Files Draft Papers for INR 1,000 Cr IPO
Paramotor Digital Technology files UDRHP-I with SEBI for its INR 1,000 crore IPO, including a fresh issue of INR 698 crore.
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Paramotor Digital Technology Limited, a financial technology company focused on digital gifting, consumer spend management, and rewards and loyalty platforms, has filed its Updated Draft Red Herring Prospectus-I (UDRHP-I) with the Securities and Exchange Board of India (SEBI) for its INR 1,000 crore IPO.
The company’s proposed IPO comprises a fresh issue of equity shares aggregating up to INR 698 crore and an Offer for Sale (OFS) aggregating up to INR 302 crore, taking the total offer size to up to INR 1,000 crore. The equity shares have a face value of INR 10 each. The OFS will comprise shares worth up to INR 151 crore each from promoter selling shareholders Sonia Pankaj Asher and Rahul Anand.
The company may consider a pre-IPO placement of up to INR 139.60 crore.
The net proceeds from the fresh issue are proposed to be utilised towards customer acquisition, retention, brand and business promotion initiatives amounting to INR 355 crore; technology development initiatives, cloud infrastructure services and IT assets amounting to INR 94 crore; investment in office infrastructure amounting to INR 38 crore; and general corporate purposes.
Motilal Oswal Investment Advisors Limited and Equirus Capital Limited are the Book Running Lead Managers (BRLMs) to the issue. MUFG Intime India Private Limited is the registrar to the offer.
Paramotor Digital Technology Limited, a financial technology company focused on digital gifting, consumer spend management, and rewards and loyalty platforms, has filed its Updated Draft Red Herring Prospectus-I (UDRHP-I) with the Securities and Exchange Board of India (SEBI) for its INR 1,000 crore IPO.
The company’s proposed IPO comprises a fresh issue of equity shares aggregating up to INR 698 crore and an Offer for Sale (OFS) aggregating up to INR 302 crore, taking the total offer size to up to INR 1,000 crore. The equity shares have a face value of INR 10 each. The OFS will comprise shares worth up to INR 151 crore each from promoter selling shareholders Sonia Pankaj Asher and Rahul Anand.
The company may consider a pre-IPO placement of up to INR 139.60 crore.
The net proceeds from the fresh issue are proposed to be utilised towards customer acquisition, retention, brand and business promotion initiatives amounting to INR 355 crore; technology development initiatives, cloud infrastructure services and IT assets amounting to INR 94 crore; investment in office infrastructure amounting to INR 38 crore; and general corporate purposes.
Motilal Oswal Investment Advisors Limited and Equirus Capital Limited are the Book Running Lead Managers (BRLMs) to the issue. MUFG Intime India Private Limited is the registrar to the offer.
