Mumbai-based fintech firm Paramotor Digital Technology Ltd has filed an Updated Draft Red Herring Prospectus (UDRHP-I) with the for a ₹1,000-crore , comprising a fresh issue of ₹698 crore and an offer for sale (OFS) of ₹302 crore.
The OFS will see promoters Sonia Pankaj Asher and Rahul Anand each offload shares worth up to ₹151 crore. The company may also pursue a pre-IPO placement of up to ₹139.60 crore, which would proportionately reduce the fresh issue size.
Proceeds from the fresh issue are earmarked primarily for customer acquisition and brand promotion (₹355 crore), technology development and cloud infrastructure (₹94 crore), office infrastructure (₹38 crore), and general corporate purposes.
Founded in 2016, Paramotor Digital operates across four business verticals — prepaid payment instrument (PPI) programme management, digital gifting, rewards and loyalty solutions under the RewardOn platform, and enterprise technology services through DevStack. Its consumer-facing products include SpendPro and yayyy.shop.
The company’s financials have grown sharply. Consolidated revenue from operations stood at ₹60.31 crore in FY26, up from ₹11.21 crore in FY25 on a standalone basis. For the three months ended June 30, 2026, it reported consolidated revenue of ₹252.77 crore and a profit after tax of ₹23.81 crore. Its Rewards and Loyalty segment, launched in Q2 FY26, contributed 68.68 per cent of revenue from contracts in FY26.
Transacting users grew to 1.58 million in FY26 from 43,269 in FY25, with the company reporting a 99 per cent user retention rate.
Motilal Oswal Investment Advisors and Equirus Capital are the book-running lead managers. MUFG Intime India is the registrar.
According to a Frost & Sullivan report cited in the prospectus, India’s digital gift card market was valued at approximately $15.1 billion in CY2025 and is projected to grow at a CAGR of 17.4 per cent through 2030.