Paramotor Digital Technology files confidentially with SEBI for IPO

Paramotor Digital Technology Ltd. has confidentially filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) under the pre-filing route toward a potential initial public offering (IPO), according to a public notice issued by the company. 

Founded in 2016, Paramotor operates a diversified fintech and enterprise technology ecosystem serving both consumers and businesses across India.

 Its business spans consumer spend management, rewards and loyalty solutions, digital gifting, and enterprise technology services.

Its portfolio includes SpendPro, a prepaid card-based spend management platform; RewardOn, an enterprise rewards and loyalty management solution; yayyy.shop, a direct-to-consumer digital gifting marketplace; and DevStack, its enterprise technology and software development services vertical.

The company is led by Executive Chairperson Sonia Asher and Managing Director Rahul Anand, whose professional backgrounds span banking, payments, and information technology.