Paramotor Digital Technology Files Confidential IPO Papers With SEBI
Key Highlights
- Paramotor Digital Technology has confidentially filed its draft red herring prospectus (DRHP) with SEBI under the pre-filing route for a proposed IPO.
- The Mumbai-based fintech reported revenue of ₹112 crore in FY 2024-25, up 232% year-on-year, with net profit of ₹29.2 crore.
- Its portfolio includes SpendPro, RewardOn, yayyy.shop and DevStack, spanning fintech, rewards, digital gifting and enterprise tech.
- Authorised capital stood at ₹75 crore and paid-up capital at ₹38.8 crore as of February 27, 2026.
- The filing adds to a busy 2026 IPO pipeline, with 65 companies having filed offer documents targeting roughly ₹1.43 lakh crore so far this year.
Editor's note: Verify all financial figures, capital structure data and IPO pipeline statistics with primary regulatory filings before publication.
Paramotor Digital Technology Files Confidential DRHP With SEBI
Mumbai-based fintech firm Paramotor Digital Technology has confidentially filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) under the pre-filing route for a proposed initial public offering, according to filings reported on May 17, 2026. The company, founded in 2016 and led by Executive Chairperson Sonia Asher and Managing Director Rahul Anand, has not disclosed the size of the proposed issue or the timeline for the listing.
The confidential filing mechanism allows issuers to begin SEBI's regulatory review without immediately disclosing detailed financial and operational data publicly, offering greater flexibility on timing and disclosures before formally launching an IPO.
Business Portfolio and Operating Model
Paramotor operates a diversified fintech and enterprise technology ecosystem catering to both consumers and businesses across India. Its operations span consumer spend management, rewards and loyalty solutions, digital gifting and enterprise technology services.
The company's portfolio comprises four platforms: SpendPro, a prepaid card-based spend management platform; RewardOn, an enterprise rewards and loyalty management solution used for employee engagement, customer loyalty and channel incentives; yayyy.shop, a direct-to-consumer digital gifting marketplace offering prepaid and branded gift cards; and DevStack, its enterprise technology and software development services vertical.
Financial Performance
According to a Tracxn report dated May 18, 2026, Paramotor recorded revenue of ₹112.3 crore for the fiscal year ended March 31, 2025, registering 232% year-on-year growth. Net profit jumped to ₹29.2 crore in FY 2024-25 from ₹5.4 crore in FY 2023-24. The company's authorised capital stood at ₹75 crore as on February 27, 2026, while paid-up capital was ₹38.8 crore.
| Fiscal Year | Revenue | Net Profit |
|---|---|---|
| FY 2020-21 | ₹2.1 Cr | ₹13.1 L |
| FY 2021-22 | ₹193.5 Cr | ₹21.3 L |
| FY 2022-23 | ₹14.3 Cr | ₹57.4 L |
| FY 2023-24 | ₹33.8 Cr | ₹5.4 Cr |
| FY 2024-25 | ₹112.3 Cr | ₹29.2 Cr |
The company employed 27 people as of March 2026, with total assets of ₹62.3 crore and cash equivalents of ₹39.5 crore as on March 31, 2025. Paramotor has no total debt on its books, according to the Tracxn data. The company is currently classified as unfunded, and Tracxn ranks it 6th among 31 competitors in its segment.
Cap Table and Leadership
Co-founders Sonia Asher and Rahul Anand each hold 49.9% of the company, holding 5,500 shares each out of 11,016 total outstanding shares, with marginal stakes held by Kunal Sharma and Sanjally Gulati. Asher's prior experience includes roles at Global Payments, HSBC and Standard Chartered Bank, while Anand's background spans banking, payments and information technology.
Industry Context
"Market participants believe Paramotor's asset-light and technology-driven operating structure could attract investor attention amid growing interest in scalable fintech and digital infrastructure businesses," The Economic Times reported, citing industry observers.
The filing comes amid a strong IPO pipeline in India. So far in calendar year 2026, 65 companies have filed offer documents with SEBI, collectively targeting fundraising of around ₹1.43 lakh crore. This follows a record-breaking 2025, when 260 companies filed IPO papers seeking nearly ₹3.97 lakh crore. According to Prime Database, 157 companies with SEBI approval are awaiting market launch to raise ₹2.38 lakh crore, while another 77 firms targeting ₹1.58 lakh crore are pending regulatory clearance.
Conclusion
Paramotor Digital Technology's confidential DRHP filing positions the profitable, unfunded fintech firm to join a wave of technology-led companies tapping public markets in 2026. With its diversified fintech and enterprise tech portfolio and a triple-digit revenue growth rate, the company will test investor appetite for scalable, asset-light digital businesses. Investors and market watchers should monitor SEBI's regulatory updates and follow StartupTalky for continuing coverage of India's evolving IPO landscape.
FAQs
What is Paramotor Digital Technology?
Paramotor Digital Technology is a Mumbai-based fintech and enterprise technology firm founded in 2016. It offers mobile-based payments processing, prepaid card spend management, rewards programmes, digital gifting and software development services.
When did Paramotor file its DRHP with SEBI?
The company confidentially filed its draft red herring prospectus with SEBI under the pre-filing route, with the development reported on May 17, 2026.
Who leads Paramotor Digital Technology?
Sonia Asher serves as Executive Chairperson and Co-Founder & CEO, while Rahul Anand is Managing Director. Each holds a 49.9% stake in the company.
What were Paramotor's revenue and profit in FY 2024-25?
The company posted revenue of ₹112.3 crore and net profit of ₹29.2 crore in the fiscal year ended March 31, 2025, with revenue growing 232% year-on-year.
What are Paramotor's main product platforms?
The company operates four platforms: SpendPro (prepaid card-based spend management), RewardOn (enterprise rewards and loyalty), yayyy.shop (direct-to-consumer digital gifting marketplace) and DevStack (enterprise software development services).
What is a confidential pre-filing IPO route?
The confidential pre-filing mechanism allows companies to submit IPO documents to SEBI for regulatory review without immediately disclosing detailed financial and operational information to the public, giving issuers greater flexibility on timing and disclosures.
