Paramotor Digital Technology Files Updated Draft Red Herring Prospectus (UDRHP-I) for ₹1,000 Crore IPO

Paramotor Digital Technology Files Updated Draft Red Herring Prospectus (UDRHP-I) for ₹1,000 Crore IPO

Mumbai — Fintech and digital solutions player Paramotor Digital Technology Limited has officially moved forward with its public listing plans, filing its Updated Draft Red Herring Prospectus (UDRHP-I) with the Securities and Exchange Board of India (SEBI).

The upcoming initial public offering (IPO) is pegged at approximately ₹1,000 crore.

Key Issue Breakdown

• Fresh Issue: Around ₹698 crore, aimed at fueling business expansion, infrastructure, and tech upgrades.

• Offer for Sale (OFS): Up to ₹302 crore by existing promoters and selling shareholders.

• Note: The company may also consider a pre-IPO placement of up to ₹139.6 crore, which would proportionately adjust the fresh issue size.

About the Company & Core Offerings

Incorporated in 2016, Mumbai-based Paramotor Digital Technology operates primarily in the financial technology, consumer spend management, and digital gifting ecosystems. Its key business verticals include:

• Prepaid Program Management: Issuance and management of prepaid payment cards and program management services.

• SpendPro & Digital Gifting: Platforms handling consumer spend tracking and non-reloadable brand gift card distribution.

• RewardOn: A reward points and loyalty platform.

• DevStack: An API and technology framework providing toolkit services, digital wallet structuring, and customer verification solutions.

Utilization of IPO Proceeds

According to the UDRHP filing, the net proceeds raised from the fresh issue will be deployed toward:

1. Customer acquisition, retention, brand promotion, and marketing initiatives.

2. Technology development, scaling cloud infrastructure, and IT assets.

3. Office infrastructure investments.

4. General corporate purposes.

Book Running Lead Managers & Registrars

Leading financial institutions including Motilal Oswal Investment Advisors and Equirus Capital are managing the issue as the book-running lead managers, while MUFG Intime India serves as the registrar.

The official price band, lot size, and opening/closing dates for the bidding process are expected to be announced soon in the final Red Herring Prospectus (RHP).

Stay tuned to GMP IPO Watch for live grey market premium (GMP) updates, subscription statuses, and further developments on the Paramotor Digital Technology IPO.