Paramotor Digital Technology files confidential IPO papers with Sebi

Paramotor Digital Technology has confidentially filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) under the pre-filing route, to launch its initial public offering (IPO).

Founded in 2016, the Mumbai-headquartered company 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 is led by executive chairperson Sonia Asher and managing director Rahul Anand, whose professional experience spans banking, payments, and information technology.

Paramotor’s 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 business.

The company generated revenue of ₹112 crore for the fiscal year ending March 31, 2025, recording a compounded annual growth rate (CAGR) of 232% over the preceding year, as per Tracxn report. The authorized capital of the financial services firm stood at ₹75 crore as on February 27, 2026, while paidup capital was ₹38.8 crore.

The company operates an asset-light, technology-driven business model, which is likely to benefit from rising digital adoption across consumer spending, enterprise engagement, and business process digitisation.

Its yayyy.shop platform provides consumers access to prepaid cards and branded gift cards across categories, strengthening the company’s presence in the direct-to-consumer digital commerce segment.

RewardOn enables enterprises to design, manage, and distribute digital rewards programmes, allowing businesses to customise employee engagement, customer loyalty, and channel incentive initiatives through a scalable platform.

Meanwhile, DevStack focuses on developing business-critical software applications and enterprise platforms, helping organisations build customised and scalable digital solutions.

So far in calendar year 2026, as many as 65 companies have already filed offer documents with the Securities and Exchange Board of India (Sebi), collectively targeting fundraising of around ₹1.43 lakh crore. The strong pipeline comes after a record-breaking 2025, when 260 companies filed IPO papers to raise nearly ₹3.97 lakh crore, making it the busiest year for IPO filings in recent history.

India’s IPO pipeline remains robust, with 157 companies planning to raise ₹2.38 lakh crore having already secured Sebi approval and awaiting market launch, while another 77 firms seeking to mobilise nearly ₹1.58 lakh crore are pending regulatory clearance, according to Prime Database data.

The combined IPO pipeline of nearly ₹3.96 lakh crore underscores the strong appetite among Indian companies to tap public markets, despite some issuers recalibrating listing timelines amid geopolitical uncertainty and global market volatility.