Paramotor Digital Technology, a Mumbai-based fintech company focused on digital gifting, consumer spend management, and rewards and loyalty platforms, filed its updated draft red herring prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI) on October 14, paving the way for its proposed initial public offering (IPO).
The company had filed its IPO papers through the confidential pre-filing route in May 2026, following which SEBI issued its approval in August 2026.
The financial technology company, which provides software-as-a-service (SaaS) and digital payment solutions, plans to raise Rs 1,000 crore through the IPO, comprising a fresh issue of Rs 698 crore and an offer for sale (OFS) of shares worth up to Rs 302 crore.
Promoters Sonia Pankaj Asher and Rahul Anand will sell shares worth up to Rs 302 crore through the OFS.
The company may also consider raising up to Rs 139.6 crore through a pre-IPO placement, which would form part of the fresh issue component. If undertaken, the fresh issue size will be reduced by the amount raised through the pre-IPO placement.