Education-technology and payments company NoPaperForms Solutions Ltd files updated draft papers with India’s markets regulator SEBI for a proposed initial public offering. The submissions outline an IPO structure that includes a fresh issue of shares worth up to ₹375 crore, alongside an offer for sale (OFS) of 3.84 crore equity shares by a shareholder, Startup Investments (Holding) Ltd.
The outlets also report that the company indicates how it intends to use proceeds from the fresh issue, including funding for customer acquisition and retention, technology development and cloud infrastructure, along with general corporate purposes and potential acquisitions. Reporting additionally notes that the company initially filed IPO papers with SEBI in November and received regulator approval in March. NoPaperForms is represented by managers including IIFL Capital Services and SBI Capital Markets.
While the core IPO terms match across coverage, the outlets differ in emphasis: some focus on the amount to be raised and the updated regulatory filing, while others add additional details about the company’s product focus and growth indicators. Overall, all sources describe the same updated SEBI filing and the planned mix of fresh issuance and OFS.
