NoPaperForms Solutions Ltd files updated draft IPO papers with India’s markets regulator SEBI, moving closer to a planned stock market debut. The filings describe an offering that includes a fresh issuance of shares worth up to ₹375 crore, alongside an offer for sale.
Sources say the offer for sale involves 3.84 crore equity shares by investor Startup Investments (Holding) Ltd. The updated draft red herring prospectus outlines that funds from the fresh issue are intended for areas such as customer acquisition and retention, technology development, and cloud infrastructure, with additional allocation for general corporate purposes and potential acquisitions.
The outlets also provide background on how the company presented its business and growth prospects, but the core IPO details are consistent across reports: the updated DRHP has been submitted to SEBI, the company seeks up to ₹375 crore through a fresh share issue, and it plans to include an OFS for 3.84 crore equity shares by its shareholder. The reports further note that SEBI had previously approved the IPO after an earlier filing cycle.
