Paramotor Digital Technology, a financial technology company operating in 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 proposed Rs 1,000 crore initial public offering (IPO).
The issue comprises a fresh issue of equity shares aggregating up to Rs 698 crore and an offer for sale (OFS) of up to Rs 302 crore. Promoter selling shareholders Sonia Pankaj Asher and Rahul Anand will each sell shares worth up to Rs 151 crore. The equity shares have a face value of Rs 10 apiece.
