Paramotor Digital Technology Limited, a fintech company focused on digital gifting, prepaid payment instruments and rewards platforms, has filed its Updated Draft Red Herring Prospectus-I (UDRHP-I) with SEBI for a proposed ₹1,000 crore IPO.
The issue comprises a fresh issue of up to ₹698 crore and an offer for sale of up to ₹302 crore by promoters Sonia Pankaj Asher and Rahul Anand. The company may also consider a pre-IPO placement of up to ₹139.60 crore.
Proceeds from the fresh issue will primarily fund customer acquisition, retention, brand promotion and business initiatives, with ₹355 crore earmarked for these activities. Other proposed uses include technology development, cloud infrastructure and IT assets, office infrastructure and general corporate purposes.
Founded in 2016, Paramotor Digital operates platforms including SpendPro, yayyy.shop, RewardOn and DevStack, serving customers across prepaid cards, digital gifting, rewards and enterprise technology services.
The company reported revenue from operations of ₹603.15 crore and profit after tax of ₹59.14 crore in FY26, on a consolidated basis. For the quarter ended June 30, 2026, it recorded revenue of ₹252.77 crore and profit after tax of ₹23.81 crore. Its FY26 transacting user base stood at 1.58 million, with a reported retention rate of 99%.
Motilal Oswal Investment Advisors Limited and Equirus Capital Limited are the book-running lead managers, while MUFG Intime India Private Limited is the registrar to the issue.
