Mumbai: Fintech and enterprise technology company Paramotor Digital Technology has started preparations to enter the stock market.
The company has confidentially filed draft papers with Securities and Exchange Board of India for an Initial Public Offering (IPO).
The filing was made under Sebi’s pre-filing route, which allows companies to keep important details such as issue size and valuation private during the early stages of the IPO process.
Why Companies Choose Confidential Filing?
The confidential filing route is becoming popular among companies planning IPOs.
This method gives firms more flexibility to decide the timing and structure of the public issue depending on market conditions.
It also allows companies to make changes before publicly releasing detailed financial and business information.
Paramotor Digital said it has submitted the pre-filed draft red herring prospectus with Sebi and stock exchanges for the proposed IPO of its equity shares on the mainboard platform.
Investment Banks Managing the IPO
According to market sources, Motilal Oswal Investment Advisors and Equirus Capital are acting as the book-running lead managers for the proposed issue.
However, the company has not yet shared the expected IPO size or launch timeline.
Company Operates Multiple Digital Platforms
Founded in 2016, Paramotor Digital Technology runs several technology-based businesses focused on consumers and enterprises.
Its platforms include SpendPro, a prepaid card-based expense management platform, and RewardOn, which helps companies run rewards and loyalty programmes.
The company also operates yayyy.shop, a digital gifting marketplace where users can buy prepaid and branded gift cards.
Another business vertical, DevStack, provides enterprise software and technology development services for organisations.
Focus on Growing Digital Economy
The company follows an asset-light and technology-driven business model.
Its business is expected to benefit from rising digital payments, online gifting, enterprise automation and growing use of digital rewards programmes in India.
The company’s software division also develops customised digital platforms and business applications for enterprises across sectors.
