Paramotor Digital Technology files confidential DRHP with Sebi for IPO

Paramotor Digital Technology has confidentially filed its draft red herring prospectus with the Securities and Exchange Board of India under the pre-filing route, marking a key step towards a potential initial public offering.

Founded in 2016, the company operates a diversified fintech and enterprise technology ecosystem catering to both consumers and businesses across India. Its business spans consumer spend management, rewards and loyalty solutions, digital gifting and enterprise technology services.

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 vertical.

Its asset-light and technology-driven operating model is positioned to benefit from rising digital adoption across consumer spending, enterprise engagement and business digitisation.