The company may consider a pre-IPO placement of up to Rs139.60 Cr
FinTech BizNews Service
Mumbai, 16 October, 2026: Paramotor Digital Technology Limited, a financial technology company focused on digital gifting, consumer spend management, and rewards and loyalty platforms, has filed its Updated Draft Red Herring Prospectus-I (UDRHP-I) with the Securities and Exchange Board of India (SEBI) for its Rs1,000 crore IPO.
The company’s proposed IPO comprises a fresh issue of equity shares aggregating up to Rs698 crore and an Offer for Sale (OFS) aggregating up to Rs302 crore, taking the total offer size to up to Rs1,000 crore. The equity shares have a face value of Rs10 each. The OFS will comprise shares worth up to Rs151 crore each from promoter selling shareholders Sonia Pankaj Asher and Rahul Anand.
The company may consider a pre-IPO placement of up to Rs139.60 crore. If undertaken, the amount raised will be reduced from the fresh issue, subject to applicable regulations.
The net proceeds from the fresh issue are proposed to be utilised towards customer acquisition, retention, brand and business promotion initiatives amounting to Rs355 crore; technology development initiatives, cloud infrastructure services and IT assets amounting to Rs94 crore; investment in office infrastructure amounting to Rs38 crore; and general corporate purposes.
Founded in 2016, Paramotor Digital operates across prepaid payment instruments (PPIs), digital gifting, rewards and loyalty solutions, and enterprise technology services. The company’s offerings include SpendPro, a consumer spend management platform for prepaid card users; yayyy.shop, a digital marketplace for gift cards and reward points; RewardOn, an end-to-end digital rewards and incentives platform for corporates; and DevStack, its technical and platform development services business focused on customised enterprise software applications.
The company acts as a program manager, business correspondent and distribution agent for prepaid payment instruments issued by banks and RBI-licensed issuers. It also distributes non-reloadable brand gift cards issued by merchants. Its customers comprise PPI issuers, gift card aggregators, corporates using rewards and loyalty programmes, and clients of its DevStack business.
Paramotor Digital’s Rewards and Loyalty business enables consumers to purchase and redeem reward points, gift cards and prepaid cards through its digital marketplace. Through RewardOn, corporate customers can design, manage and distribute reward points to beneficiaries, who can redeem them through a customised catalogue of gift cards and prepaid cards. The company’s SpendPro platform facilitates consumer spend management for prepaid card users.
The company’s growth strategy includes expanding its user base across its offerings, enhancing technology and infrastructure, developing new products and services, increasing business partnerships and alliances, and strengthening the Paramotor brand.
Paramotor Digital is led by Sonia Pankaj Asher, Executive Chairperson and Whole-time Director, and Rahul Anand, Managing Director. Sonia Asher has over 24 years of experience across banking and payments, including leadership roles at Global Payments Asia-Pacific India and HSBC. Rahul Anand has over 17 years of experience, including management consulting, e-commerce and digital payments.
The company’s business strengths include its digital direct-to-consumer ecosystem spanning prepaid cards, gifting and rewards; a growing retail transacting user base with strong retention rates; technology platforms supporting scalable enterprise solutions; and its ability to develop and sustain partnerships.
Paramotor Digital’s consolidated revenue from operations increased from Rs33.08 crore in FY24 to Rs112.08 crore in FY25 on a standalone basis, before rising to Rs603.15 crore in FY26 on a consolidated basis. Profit after tax (PAT) increased from Rs4.94 crore in FY24 to Rs24.51 crore in FY25 and Rs59.14 crore in FY26, based on the respective standalone and consolidated financial statements.
